The Following Information Is Available for Charles Company The Accounts Receivable Turnover for 2014 Is
A) 1

question 38

Multiple Choice

The following information is available for Charles Company: $\begin{array}{lrr}&2014&2013\\\text { Accounts receivable } & \$ 460,000 & \$ 500,000 \\\text { Inventory } & 340,000 & 420,000 \\\text { Net credit sales } & 2,470,000 & 1,400,000 \\\text { Cost of goods sold } & 1,860,000 & 1,060,000 \\\text { Net income } & 300,000 & 170,000\end{array}$ The accounts receivable turnover for 2014 is

• A) 1.6 times.
• B) 5.4 times.
• C) 5.1 times.
• D) 3.9 times.

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Definitions:

Interest Rate

The percentage at which interest is charged or paid on a sum of money, often expressed annually.

Cash Flows

Cash flows refer to the net amount of cash and cash-equivalents being transferred into and out of a business.

Quarterly Savings

Savings accumulated or set aside at the end of every quarter of the fiscal year.

Rate Of Return

Financial advancement or recession in the value of an investment over a prescribed time frame, stated as a percentage of the initiating investment.