A Recent Annual Report for Kirova Company Contained the Following

question 15

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A recent annual report for Kirova Company contained the following data:
$$\begin{array} { l r r } &&{ \text { (in millions) } } \\ & \underline { 2011 } & \underline { 2010 } \\\text { Accounts receivable }& \$ 2,023 & \$ 1,866 \\\text { Less: Allowance for Doubtful Accounts } & 50 & 52 \\\text { Net accounts receivable } & 1,973 & 1,814\\\text { Net sales (assume all are on credit) } &18.158\end{array}$$ Requirements:
A.Calculate the accounts receivable turnover ratio and average days' sales in receivables for 2011.
B.Explain the meaning of each number.

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Definitions:

Particular Negative

A logical statement that asserts the non-existence of some instances of a class or category.

Universal Affirmative

A logical statement that asserts something is true of all members of a particular category or class.

Categorical Propositions

Statements that assert or deny something about all members of a category, involving a subject and a predicate that relates to the subject.

Standard Form

A method of presenting arguments in a clear and logical structure, often aligning premises and conclusion to highlight logical flow.