Somen to Park Corporation Had Net Credit Sales of $5,075,000

question 46

Multiple Choice

Somen to Park Corporation had net credit sales of $5,075,000 and cost of goods sold of $3,750,000 for the year.The Accounts Receivable balances at the beginning and end of the year were $650,000 and $750,000, respectively.The accounts receivable turnover was

• A)7.8 times.
• B)6.8 times.
• C)7.3 times.
• D)5.4 times.

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Definitions:

Praise

The expression of approval or admiration for someone or something.

Recognition

Acknowledgment or praise given to individuals or groups for their achievements, contributions, or performance.

Process Theory

A theoretical approach that focuses on understanding the dynamics through which entities undergo changes or develop over time.

Maslow's Hierarchy

A theory of psychological health predicated on fulfilling innate human needs in priority, culminating in self-actualization.