Perfect Purchase Electronics Selected Income Statement Items, 2009

question 76

Multiple Choice

Perfect Purchase Electronics Selected Income Statement Items, 2009
Cash Sales $1,500,000
Credit Sales $7,500,000
Total Sales $9,000,000
COGS $6,000,000
Perfect Purchase Electronics
Selected Balance Sheet Accounts
12/31/2009 12/31/2008 Change
Accounts Receivable $270,000 $240,000 $30,000
Inventory $125,000 $100,000 $25,000
Accounts Payable $110,000 $90,000 $20,000
Using the information provided, what is the accounts payable turnover for the firm?

• A) 15 times
• B) 60 times
• C) 75 times
• D) 90 times

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Definitions:

Companionate Love

The strong affection for those with whom our lives are deeply involved.

Intimacy And Commitment

Key components of love relationships, where intimacy involves feelings of closeness and attachment, and commitment refers to the decision to maintain that relationship over time.

Triangular Theory

A psychological theory that describes love in terms of three components: intimacy, passion, and commitment, as proposed by psychologist Robert Sternberg.

Infatuated Love

A state of intense, often short-lived romantic attraction focused more on physical attraction and obsession than deep emotional connection.