Apple Two Enterprises Expects to Generate Sales of $5,950,000 for Fiscal

question 1

Multiple Choice

Apple Two Enterprises expects to generate sales of $5,950,000 for fiscal 2014; sales were $3,450,000 in fiscal 2013. Assume the following figures for the fiscal year ending 2013: cash $70,000; accounts receivable $250,000; inventory $400,000; net fixed assets $520,000; accounts payable $235,000; and accruals $155,000. Use the percent-of-sales method to forecast accounts payable for the fiscal year ending 2014.

• A) $212,036
• B) $405,290
• C) $619,619
• D) $155,000

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Definitions:

Attitudes

Psychological tendencies expressed by evaluating a particular entity with some degree of favor or disfavor.

Durable

Referring to items, goods, or materials that are designed to withstand wear, pressure, or damage; long-lasting.

Influences

Forces or factors that have an effect on the behavior, opinions, or development of someone or something.

Sleeper Effect

A delayed increase in the impact of a message that occurs when an initially discounted message becomes effective, as the reason for discounting it is forgotten.