Frantic Company Had $130,000 in Sales on Account Last Year

question 194

Multiple Choice

Frantic Company had $130,000 in sales on account last year.The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $16,000.The company's accounts receivable turnover was closest to:

• A) 5.00 times.
• B) 8.13 times.
• C) 10.00 times.
• D) 13.00 times.

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Definitions:

Strategic Control

A management activity focused on monitoring and guiding the strategy implementation process to ensure that the organization's strategic goals are met.

Control Measures

Strategies, policies, or actions implemented to prevent, manage, or mitigate risk, ensure compliance, or meet operational benchmarks.

Cycle Time

The total time from the beginning to the end of a process, operation, or cycle, often used to assess efficiency and productivity in manufacturing and other processes.

Raw Materials

Basic materials from which products are made, typically extracted natural resources or agricultural products.