If the Net Credit Sales Are $850,000, Net Receivables for 2007

question 51

Multiple Choice

If the net credit sales are $850,000, net receivables for 2007 were $130,000, and $210,000 for 2008, which of the following is correct?

• A)Accounts turnover is 4.05.
• B)Collection period is 71 days.
• C)Accounts turnover is 5.00.
• D)Collection period is 75 days.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and our daily lives.

Lighter Cameras

Covert cameras disguised as ordinary lighters, used for secret or undercover photography.

Mobility

The ability to move freely and easily, often referring to social mobility, which is the movement of individuals or groups in social position over time.

Technology

The application of scientific knowledge for practical purposes, especially in industry, where it involves the machinery and equipment developed from such scientific knowledge.