The Net Realizable Value of Receivables Appearing on the December

question 161

Multiple Choice

The net realizable value of receivables appearing on the December 31,2012 balance sheet will amount to:

• A) $29,200.
• B) $30,450.
• C) $29,750.
• D) $24,300.

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Definitions:

Income Received

The total earnings obtained by an individual or entity, including wages, salaries, profits, rents, and other forms of financial gains.

Lowest Quintile

describes the bottom 20% segment of a population sorted by income or wealth, usually referenced in economic studies of inequality.

Income Received

The amount of money or monetary value received by an individual or entity in exchange for goods provided, services rendered or as a return on investments.

Middle Three Quintiles

The segments of the population that fall into the second, third, and fourth quintiles when dividing the total population into five equal groups based on income or wealth.