The Following Information Is Available for Patterson Company The Accounts Receivable Turnover for 2017 Is
A) 8

question 88

Multiple Choice

The following information is available for Patterson Company: $\begin{array}{lrr}&2017&2016\\\text { Accounts receivable } & \$ 360,000 & \$ 340,000 \\\text { Inventory } & 280,000 & 320,000 \\\text { Net credit sales } & 3,150,000 & 2,600,000 \\\text { Cost of goods sold } & 1,800,000 & 840,000 \\\text { Net income } & 300,000 & 170,000\end{array}$ The accounts receivable turnover for 2017 is

• A) 8.8 times.
• B) 4.5 times.
• C) 9.0 times.
• D) 9.3 times.

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Definitions:

Performance Effectiveness

An output measure of task or goal accomplishment.

Work-Life Balance

The equilibrium or balance that an individual aims to maintain between their work commitments and personal life activities, promoting well-being and reducing stress.

Profitability

A financial metric that measures the degree to which a company or business activity makes money, expressing profit as a proportion of revenue.

Networking

The process of establishing and maintaining professional relationships that may lead to business opportunities, knowledge exchange, or career advancement.