Question 8 (3 points) Maple Inc. collects 30% of its sales in the month of sale and the other 70% in the following month. The following shows budgeted sales for January through March. January $250,000 February $325,000 $387,500 March What is the amount of cash receipts budgeted for February? 1) $97,500 2) $271,250 3) $272,500 4) $302.000 Question 23 (3 points) If you compare financial statements prepared in accordance with U.S. GAAP to a managerial accounting report, the managerial accounting report is more likely to: 1) provide financial information for the company as a whole. 2) focus on users of financial information outside the company. 3) provide financial information related to the last accounting period. 4) provide financial information at the product level. Question 24 (3 points) According to the IMA Statement of Ethical Professional Practice, competence means that each member has a responsibility for all the following except: 1) refrain from using confidential information for unethical or illegal advantage. 2) maintaining an appropriate level of professional expertise. 3) recognizing and communicating professional limitations. 4) performing professional duties in accordance with relevant laws, regulations and technical standards