XYZ's Receivables Turnover Is 10x

question 69

Multiple Choice

XYZ's receivables turnover is 10x. The accounts receivable at year-end are $600,000. What was the sales figure for the year?

• A) $60,000
• B) $6,000,000
• C) $7,200,000
• D) None of the other answers are correct

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Definitions:

Indifference Curves

Curves that represent the locus of various points indicating combinations of goods giving equal satisfaction and utility to the consumer.

Inferior Good

A category of product that sees reduced demand as the income levels of buyers rise.

Normal Good

A normal good is one for which demand increases as the income of consumers increases.

Optimal Consumption

The consumption mix that provides the highest satisfaction or utility level to an individual, given their income and prices.