A Company's History Indicates That 20% of Its Sales Are

question 82

Multiple Choice

A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, 25% the following month, and 5% is uncollectible. Projected sales for December, January, and February are $60,000, $85,000 and $95,000, respectively. The February expected cash receipts from all current and prior credit sales is:

• A) $57,000
• B) $61,200
• C) $66,400
• D) $80,750
• E) $90,250

Understand empirical reasoning and its distinction from other forms of reasoning.

Identify empirical reasoning’s significance in hypothesis testing and scientific inquiry.

Recognize the open and self-corrective nature of empirical reasoning within the scientific community.

Appreciate the role of empirical evidence in supporting or disconfirming hypotheses.

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Definitions:

Objective Science

Objective science pertains to the study of the natural world based on observable, measurable evidence, free from personal biases or emotions.

Conditioned Response

A learned reaction or response to a previously neutral stimulus after repeated association with an unconditioned stimulus.

Classical Conditioning

A learning process in psychology where two stimuli are repeatedly paired together until an individual associates them with each other, leading to a change in behavior.

CS

An abbreviation often used in psychology and neuroscience for "Conditioned Stimulus," a component of classical conditioning.