A Company Has a Receivables Turnover of 15 Times

question 70

Multiple Choice

A company has a receivables turnover of 15 times.The average net receivables during the period are $430,000.What is the amount of net credit sales for the period?

• A) $430,000
• B) $6,450,000
• C) $6,000,000
• D) $500,000

Recognize the legal rights and obligations arising from property development and ownership, including those related to subterranean rights and possible liabilities from such developments.

Distinguish between different types of fixtures in property law and their implications for property owners and tenants.

Understand the legal responsibilities of landlords towards tenants and others, particularly regarding safety and habitability of rental premises.

Comprehend the legal doctrines affecting property rights, including prescriptive easements, and the impact of local laws on lease agreements.

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Definitions:

Journal Entries

Journal entries are the initial records of financial transactions in the accounting process, indicating the debit and credit impact on specific accounts.

Creditor Relationship

The financial and business dynamics between a creditor, who extends credit, and a debtor, who owes the creditor money.

Owner Relationship

The legal and managerial relationship between the owner(s) of a business and the business entity itself.

Automotive Parts

Components and replacements parts specifically designed for use in motor vehicles, including both original equipment (OEM) and aftermarket parts.