The Following Balance Sheet Information Was Provided by O'Connor Company

question 90

Multiple Choice

The following balance sheet information was provided by O'Connor Company: $\begin{array}{lrr}\text { Assets } & \text { Year 2 } & \text { Year 1 } \\\text { Cash } & \$ 3,600 & \$ 2,600 \\\text { Accounts receivable } & \$ 8,600 & \$ 6,600 \\\text { Inventory } & \$ 36,000 & \$ 37,000\end{array}$ Assuming that net credit sales for Year 2 totaled $161,000, what is the company's most recent accounts receivable turnover?

• A) 18.72 times
• B) 10.59 times
• C) 24.39 times
• D) 21.18 times

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Definitions:

Not Synonymous

The term "not synonymous" indicates that two or more terms or phrases do not have the same meaning or connotation.

Marketing Mix

A set of actions, or tactics, that a company uses to promote its brand or product in the market, traditionally defined by the 4Ps: product, price, place, and promotion.

Three Components

A generic term that could refer to the essential parts, aspects, or stages of a process, system, or model, depending on the specific context.

Professional Sales Force

A team of trained and experienced sales individuals who work to achieve the sales targets of a company using various selling techniques and skills.