ABC Co Has an Average Collection Period of 90 Days

question 55

Multiple Choice

ABC Co. has an average collection period of 90 days. Total credit sales for the year were $6,000,000. What is the balance in accounts receivable at year-end?

• A)$150,000
• B)$2,250,000
• C)$1,500,000
• D)$40,000

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Definitions:

GLOBE Project

A cross-cultural research initiative exploring societal culture and leadership in over 60 countries, aimed at understanding global work dynamics.

Key Findings

Important discoveries or conclusions that emerge from a research study, investigation, or analysis.

Charismatic/Value-Based

A leadership style that is rooted in the ability to inspire and motivate followers through one's charisma and commitment to core values and ethical principles.

Culturally Endorsed

Refers to practices, beliefs, or behaviors that are supported or promoted within a specific culture.