The Following Information Is Available for Oakland Company The Accounts Receivable Turnover Ratio for 2017 Is
A)1

question 139

Multiple Choice

The following information is available for Oakland Company: $\begin{array}{lrr}&2017&2016\\\text { Accounts receivable } & \$ 430,000 & \$ 460,000 \\\text { Inventory } & 280,000 & 320,000 \\\text { Net credit sales } & 2,670,000 & 1,600,000 \\\text { Cost of goods sold } & 1,860,000 & 1,060,000 \\\text { Net income } & 300,000 & 170,000\end{array}$ The accounts receivable turnover ratio for 2017 is

• A)1.4 times.
• B)6.2 times.
• C)6.0 times.
• D)5.8 times.

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Definitions:

Disintermediation

The removal of intermediaries in a supply chain, allowing direct transactions between producers and consumers.

Channel Intermediaries

Organizations or individuals that act as middlemen in the distribution process, helping to move products from the producer to the final consumer.

Over-the-counter Products

Medications or goods that can be purchased without a prescription, directly from a retailer.

Walgreens

An American company that operates as the second-largest pharmacy store chain in the United States, offering health and wellness products, prescriptions, and healthcare services.