Valdez Company Reported Sales of $342,000; Beginning Net Accounts Receivable

question 51

Multiple Choice

Valdez Company reported sales of $342,000; beginning net Accounts Receivable of $89,000 and ending net Accounts Receivable of $111,000. Valdez Company's receivable collection period (rounded to the nearest day) is:

• A)107.
• B)213.
• C)118.
• D)274.

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Definitions:

Collective Unconscious

A concept in Jungian psychology referring to the part of the unconscious mind that is derived from ancestral memory and experience, common to all humankind.

Archetypes

Universally recognized symbols or patterns in human behavior that recur in myths, stories, and dreams, often explored in psychology and literature.

Libido

A term that refers to one's overall sexual drive or desire for sexual activity.

Neo-Freudian

A term referring to psychologists who accepted the basic components of Freud's theory but modified and expanded upon it to include social and cultural aspects.