The Following Information Is from the Annual Financial Statements of Nancy

question 43

Multiple Choice

The following information is from the annual financial statements of Nancy Company. $\begin{array}{lrrr} & 2013 & 2012 & 2011 \\\text { Net sales } & \$ 307,000 & \$ 238,000 & \$ 285,000 \\\text { Accounts receivable, net (year-end) } & 47,900 & 45,700 & 42,400 \\\end{array}$ What is the accounts receivable turnover ratio for 2012?

• A) 6.41
• B) 4.97
• C) 6.72
• D) 5.40
• E) 5.20

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Definitions:

Universal Principles of Management

Universal principles of management are foundational theories and practices believed to be applicable across various organizational types and management situations.

Specialization of Labor

The division of labor where each worker or group of workers focuses on a specific task or job to increase efficiency and expertise.

Division of Work

The allocation of different tasks and responsibilities to various members or groups within an organization to increase efficiency.

Information Overload

Occurs when an individual is exposed to more information than they can process, leading to overwhelm or decision paralysis.