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:

Time Management

The practice of organizing and planning how to divide one's time between specific activities to work more efficiently.

Smaller Projects

Projects with limited scope and duration, often characterized by fewer resources, lower costs, and less complexity compared to larger initiatives.

Project Specifications

Detailed descriptions of the requirements, features, and standards that a project must meet or exceed.

Client Expectations

The beliefs or standards that clients have regarding the performance or delivery of services or products.