Maloney Company Had Net Credit Sales During the Year of $1,200,000

question 84

Multiple Choice

Maloney Company had net credit sales during the year of $1,200,000 and cost of goods sold of $750,000. The balance in accounts receivable at the beginning of the year was $120,000, and the end of the year it was $180,000. What was the accounts receivable turnover ratio?

• A) 5.0
• B) 6.7
• C) 8.0
• D) 10.0

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Definitions:

Controlled

In an experimental context, this refers to maintaining constant conditions or influencing variables to determine their effects on other variables.

Conscious

The state of awareness of one's own existence, thoughts, emotions, and surroundings.

High-Status Exemplars

Influential individuals or models within a society or group, often looked up to for guidance or imitation due to their perceived higher status.

Racial Attitudes

The beliefs, feelings, and predispositions individuals hold towards people of other races, often influenced by societal, cultural, and personal experiences.