Pine Hardware Store Had Net Credit Sales of $3,900,000 and Cost

question 52

Multiple Choice

Pine Hardware Store had net credit sales of $3,900,000 and cost of goods sold of $3,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The receivables turnover ratio was

• A) 5.6 times.
• B) 6.5 times.
• C) 4.6 times.
• D) 6 times.

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Definitions:

Perception of Pain

The subjective experience and interpretation of pain signals by the brain, influenced by various factors.

Hyposecretion

Hyposecretion is the decreased or insufficient secretion of hormones or other substances by a gland.

Thyroid Hormones

Hormones produced by the thyroid gland, crucial for regulation of metabolism, energy, and growth.

Weight Gain

An increase in body weight, which can result from an accumulation of body fat, muscle mass, or fluid retention.