The Financial Statements of the Nelson Manufacturing Company Reports Net

question 199

Multiple Choice

The financial statements of the Nelson Manufacturing Company reports net sales of $360,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Nelson?

• A)4.5 times
• B)7.2 times
• C)12.0 times
• D)9.0 times

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Definitions:

Easy Answer

A solution or explanation that is readily available and does not require much thought or effort to understand or implement.

Two Main Theories

A general statement referring to the most prominent or widely accepted theories within any given field of study.

Profit-generating Product

A product that significantly contributes to a company's revenues exceeding its costs, thereby creating a profit.

Ethically

Pertaining to or dealing with morals or the principles of morality; relating to right and wrong in conduct.