Use the Following Information for Questions

question 24

Multiple Choice

Use the following information for questions.
The following data are provided:

Additional information:
Depreciation included in cost of goods sold and operating expenses is $305,000.On May 1, 2011, 15,000 ordinary shares were issued.The preference share are cumulative.The preference dividends were not declared during 2011.
-The receivables turnover for 2011 is

• A)3,200 ÷ 400.
• B)2,100 ÷ 400.
• C)3,200 ÷ 350.
• D)2,100 ÷ 350.

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Definitions:

Inflation

The speed at which the overall price level of goods and services increases, leading to a decline in the currency's buying power.

Relative Prices

The price of one good or service compared to another, often used to analyze choices and preferences in consumer behavior.

Society

A community of individuals living together in a more or less ordered community, sharing customs, laws, and organizations.

Money Demand

The desired holding of financial assets in the form of money; it is often associated with the level of liquidity preference.