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Multiple Choice Questions?

Patents & Trademarks Discussion Forum

Multiple Choice Questions?

Postby fychan97 » Wed Apr 11, 2012 12:05 am

Problem 1:
Sales on account for the year totaled $200,000. The following information is also available from the accounting system:

Accounts Receivable Balances
Beginning of year $30,000
End of year 25,000

What amount of cash was collected from customers during the year?

$200,000
$195,000
$205,000
$170,000

Problem 2:
Which of the following has a different effect on net income than it does on cash flow?

payment for wages
cash sale to customer
amortization of a patent
payment of office rent

As usual, I am stuck. If someone could help, I will be grateful.
fychan97
 
Posts: 49
Joined: Fri Apr 01, 2011 4:01 pm

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