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Seneca College *

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Course

440

Subject

Management

Date

Nov 24, 2024

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pdf

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2

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11/19/23, 8:56 PM Chapter 6 Quiz https://www.ameengage.com/mod/quiz/review.php?attempt=4682828&cmid=1260517&page=5 1/2 English (en) English (en) Français - Canada (fr_ca) Dashboard / My courses / [Seneca 09/2023] HTM440NHA - Nardi / CHAPTER 6 - Budgeting / Chapter 6 Quiz Question 6 Correct Mark 1.00 out of 1.00 Jordan Gope expects $50,000 of total sales in February and $45,000 of total sales in March. Historically, Jordan collects 85% of total sales in the month of sale and 15% in the following month. How much cash should Jordan expect in the month of March? Select one: a. $49,250 b. $6,750 c. $45,750 d. $42,500 Your answer is correct. Explanation: Collections from February’s sales amount to $7,500 ($50,000 x 0.15) and collection from the current month amounts to $38,250 ($45,000 x 0.85). Therefore, Jordan should expect a total of $45,750. The correct answer is: $45,750
11/19/23, 8:56 PM Chapter 6 Quiz https://www.ameengage.com/mod/quiz/review.php?attempt=4682828&cmid=1260517&page=5 2/2 Français (fr)
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