Krackle Korn Inc

question 49

Multiple Choice

Krackle Korn Inc.had credit sales of $3,500,000 last year and its days sales outstanding was DSO = 35 days.What was its average receivables balance, based on a 365-day year?

• A) $335,616
• B) $352,397
• C) $370,017
• D) $388,518
• E) $407,944

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Definitions:

Consumer Culture

A societal framework in which buying and using goods and services is promoted as a primary social and economic activity.

Great Depression

Worst economic depression in American history; it was spurred by the stock market crash of 1929 and lasted until World War II.

Segregation

A policy or practice of separating people based on race or ethnicity, often resulting in inequality and discrimination.

Greensboro Sit-in

A series of nonviolent protests in 1960 which started when four African American students sat at a segregated lunch counter in Greensboro, North Carolina, challenging racial segregation.