Parr Hardware Store Had Net Credit Sales of $5,200,000 and Cost

question 104

Multiple Choice

Parr Hardware Store had net credit sales of $5,200,000 and cost of goods sold of $4,000,000 for the year.The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively.The accounts receivables turnover was

• A) 7.4 times.
• B) 8.7 times.
• C) 6.2 times.
• D) 8 times.

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Definitions:

Sustainable Activities

Actions and practices that do not deplete resources or harm natural cycles, ensuring long-term environmental balance.

Shareholders

Individuals or entities that own shares in a corporation, making them partial owners of the company with rights to dividends and voting in corporate matters.

CEO's Pay

The compensation package awarded to the chief executive officer of a corporation, including salary, bonuses, and stock options.

Short-termism

A focus on short-term results at the expense of long-term interests.