During 2012, ABC Corporation's Revenues from Sales totaled $450,000 and Accounts Receivable decreased by $7,000; therefore, the cash received from customers was $443,000.

Question

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The decrease in Accounts Receivable would indicate that some of the cash received from customers was not recorded as revenue in 2012, which means that the total cash received from customers would not equal the total revenues from sales for the year. Therefore, the statement is false.

During 2012, ABC Corporation's Revenues from Sales Totaled $450,000 and Accounts