The Rye Corporation Has Provided the Following Information: • Total

question 67

Multiple Choice

The Rye Corporation has provided the following information: • Total sales were $1,200,000.
• Beginning net accounts receivable was $45,000.
• Ending net accounts receivable was $65,000.
• Sales returns and allowances totaled $100,000.
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What was Rye's receivables turnover ratio?

• A)21.8
• B)18.5
• C)10.0
• D)20.0

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Definitions:

Openness

A personality trait or quality of being willing to consider new ideas, experiences, and diverse perspectives, often associated with creativity and adaptability.

Detrimental

Causing harm, damage, or a negative impact on something or someone.

Leadership Style

The approach and tactics a leader adopts in guiding, directing, motivating, and managing groups.

Preparedness

The state of being ready and well-prepared for a particular task or event.