Lasiter Corp

question 29

Multiple Choice

Lasiter Corp.reported net credit sales of $2,000,000 and cost of goods sold of $1,400,000 for 2014.On January 1, 2014, accounts receivable was $250,000.Amounts owed by customers increased by $20,000 during 2014.Rounding to two decimal places, what is Lasiter's accounts receivable turnover rate for 2014?

• A)8.33
• B)8.00
• C)7.69
• D)7.41

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Definitions:

Fixed-interval Scheduling

A type of operant conditioning reinforcement schedule where rewards are given after a fixed time period, causing a scalloped pattern of response rates.

Discrimination

refers to the unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.

Respondent Behavior

Automatic responses triggered by specific stimuli without conscious decision, such as reflexes.

Biological Need

A biological need is a physiological requirement that organisms must meet to maintain health, such as food, water, and shelter.