A Company Has an Accounts Receivable Turnover Ratio of 10

question 199

Multiple Choice

A company has an accounts receivable turnover ratio of 10. The average net accounts receivable during the period are $700,000. What is the amount of net credit sales for the period?

• A) $70,000
• B) $7,000,000
• C) $700,000
• D) $770,000

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Definitions:

Heroin Deaths

Fatalities resulting from the consumption of heroin, a highly addictive opioid drug.

Benzodiazepines

A class of psychoactive drugs used to treat conditions like anxiety, insomnia, and seizures, known for their sedative effects.

Chronic Pain

Persistent or recurring pain that lasts for an extended period of time, often beyond the normal healing process.

Alcohol Use

The consumption of beverages containing ethanol, commonly known as alcohol, which can range from moderate drinking to alcohol abuse.