question 61
Multiple Choice
Comparative financial statements for Cross, Inc.are shown below: Assets Current assets: Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant and equipment, net Total assets Liabilities and Stockholders’ Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term debt Total liabilities Stockholders’ equity: Common stock Retained earnings Retained earnings Total stockholders’ equity Total liabilities and stockholders’ equity Net sales Cost of goods sold Gross margin Operating expense Operating income Interest expense Earnings before tax Income taxes Net income December 312018$89,103142,00096,70821,203349,014822,576$1.171.590$85,44338,112123,555302,430425,985600,000145,60514,700745,605$1,171,590 Year Ended December 312018$17,005,85212,250,2574,755,5953,585,6571,169,93828,5001,141,438342,431$799,0072017$68,203135,00085,6945,118294,015718,144$1012,159$62,39433,50795,901290,324386,225600,00025,9348,000625,934$1,012,1592017$13,809,5859,825,6143,983,9713,400,258583,71327,300556,413166,924$389,489 What is the most likely explanation for the change in Cross' accounts receivable turnover from 2017 to 2018?
Definitions:
Ivan Pavlov
A Russian physiologist known for his work in classical conditioning, demonstrating how stimuli can trigger reflex responses in dogs.
Pioneered
To initiate or lead the development of something new, such as a technique, technology, or field of study.
Humanistic Psychology
A psychological perspective that emphasizes the study of the whole person and the individual's potential for personal growth.
Growth Potential
The capacity for expansion or development in any aspect, such as personal, economic, or biological growth.