This Act Passed in 1906 to Protect Consumers by Addressing

question 18

Multiple Choice

This act passed in 1906 to protect consumers by addressing public health issues related to patent medicines.

• A)the Public Health Commission Act
• B)the Pure Food and Drug Act
• C)the Cosmetic Safety and Patent Medicine Control Act
• D)the Heinz-Pillsbury Act
• E)the Federal Consumer Safety Act

---

Definitions:

Accounts Receivable Turnover

A financial ratio indicating how quickly a company collects cash from credit sales, calculated over a given period.

Accounts Receivable

Accounts receivable represents the money owed to a company by its customers for goods or services delivered or used but not yet paid for.

Sales

The cumulative amount of money made by a business from selling its goods or services.

Average Collection Period

The average collection period is the average amount of time it takes for a business to receive payments owed by its customers for sales made on credit.