The operating cycle for all businesses is one year
a. True
b. False
Indicate whether the statement is true or false
False
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An opportunity cost is the benefit given up or sacrificed when one alternative is chosen over another
Indicate whether the statement is true or false
Because people have different speaking styles, group members should decide beforehand
A) who does what. B) when to schedule meetings. C) the presentation topic, tone, format, organization, and visuals. D) who brings snacks.
If you find information on the Web, you can be assured that it is reliable
Indicate whether the statement is true or false
Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows: Sales BudgetApril May JuneCash Sales30,000 43,000 55,000Sales on Account370,000 432,000 405,000 400,000 475,000 460,000 Bright Minds expects to collect 70% of the sales on account in the month of sale, 20% in the month following the sale, and the remainder in the second month following the sale.What is the ending accounts receivable balance that would be reported on the pro forma balance sheet prepared as of June 30?
A. $86,400 B. $283,500 C. $164,700 D. $121,500