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

question 123

Multiple Choice

The following balance sheet information was provided by O'Connor Company: $\begin{array}{lrr}\text { Assets } & \text { Year 2 } &{\text { Year 1 }} \\\text { Cash } & \$ 4,000 & \$ 2,000 \\\text { Accounts receivable } & 15,000 & 12,000 \\\text { Inventory } & \$ 35,000 & \$ 38,000\end{array}$
Assuming that net credit sales for Year 2 totaled $270,000, what is the company's most recent accounts receivable turnover?

• A) 18 times
• B) 20 times
• C) 22.5 times
• D) 7.7 times

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Definitions:

Work

Tasks or activities undertaken to achieve a goal, often in exchange for payment; also refers to employment or occupation.

Good Impression

the positive perception or judgment formed by someone based on initial encounters or interactions.

Telephone Interview

A method of conducting an interview over the phone, commonly used in preliminary employment screening or research.

Practise

The act of repeatedly doing or training in something to improve skill or proficiency.