Sales were $400,000 . The beginning balance of accounts receivable was $4,500, the ending balance was $8,000 . The amount of cash collected from customers was:
a. $400,000
b. $403,500
c. $408,000
d. $404,500
e. $396,500
e
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Blenham, Inc sells merchandise on credit. If a customer pays its balance due after the discount period has passed, what is the effect of the payment on Blenham's accounting equation?
a. Assets and stockholders' equity decrease. b. Assets decrease and liabilities increase. c. Assets and stockholders' equity increase. d. No net effect.
A corporation cannot ratify an unauthorized act committed by its corporate officer
Indicate whether the statement is true or false
Which of the following characteristics is not true for the exponential distribution?
A) It is discrete probability distribution. B) It is also called the negative exponential distribution. C) It is used in dealing with queuing problems. D) It is used to describe the times between customer arrivals. E) The variance is the square of the expected value.
The sales forecast and various forms of operating and financial data are the key outputs of the short-run (operating) financial planning
Indicate whether the statement is true or false