The Following Information Pertains to Unique Company

question 127

Multiple Choice

The following information pertains to Unique Company.Assume that all balance sheet amounts represent both average and ending balance figures.Assume that all sales were on credit. What is the accounts receivable turnover for this company?

• A)2.8 times
• B)2 times
• C)3.4 times
• D)3 times

Analyze and interpret financial data to calculate average returns on investments.

Understand and perform calculations related to textbook royalties.

Apply mathematical operations to solve practical problems in finance.

Understand and apply basic arithmetic operations and properties to solve real-world problems.

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Definitions:

Civil Right Act

Legislation aimed at preventing discrimination based on race, color, religion, sex, or national origin and enforcing legal rights of all citizens.

Sexual Orientation

An inherent or immutable enduring emotional, romantic, or sexual attraction to other people.

Promissory Estoppel

The legal doctrine that restricts an offeror from revoking an offer under certain conditions, even though consideration has not been promised to bind the agreement. To be effective, promissory estoppel requires that the offeror know, or be presumed to know, that the offeree might otherwise make a definite and decided change of position in contemplation of promises contained in the offer.

Wrongful Discharge

Exceptions to employment-at-will that give employees legal ground for lawsuits against employers who have dismissed them unfairly.