Exam: 061683RR – PLANNING, PERFORMANCE 2023 Business Finance
2023 Questions 1 to 20 Select the best answer to each question Note that
Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page break, so be sure that you have seen the entire question and all the answers before choosing an answer.
Use the following information to answer this question.
The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information:
• Sales were at $450,000, all for cash.
• Merchandise inventory on October 31 was $200,000.
• The cash balance on November 1 was $18,000.
• Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash.
• Budgeted depreciation for November is $25,000.
• The planned merchandise inventory on November 30 is $230,000.
• The cost of goods sold is 70% of the selling price
.• All purchases are paid for in cash.
1. The budgeted cash disbursements for November are
A. $530,000.
B. $345,000.
C. $405,000.
D. $375,000.
please check the attachment for all the questions
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