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

question 116

Multiple Choice

The following balance sheet information was provided by O'Connor Company: If net credit sales for Year 2 totaled $149,000, what is the company's most recent accounts receivable turnover?

• A)11.64 times
• B)20.14 times
• C)23.28 times
• D)27.59 times

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Definitions:

Responsibility

The state or fact of being accountable or to blame for something, often involving an obligation to act.

Cohesiveness

The degree to which members are attracted to a group and motivated to remain a part of it.

Attracted

Drawn towards or interested in something or someone due to appealing qualities.

Performance Norms

The accepted standards or expectations regarding performance levels within a group or organization.