Net Devices Inc. The following balance sheets and income statements are for Net Devices Inc.,a manufacturer of small electronic devices,including calculators,personal digital assistants and mp3 players.For purposes of these questions assume that the company has an effective tax rate of 35%.
BALANCE SHEETS
Refer to the information for Net Devices Inc.What is the accounts receivable turnover ratio for Net Devices for 2011?
Definitions:
Earnings
The amount of money that an individual or business receives in exchange for providing a good or service or through investing capital.
Term Life Insurance
A type of insurance that provides protection for the policyholder; term insurance covers the policyholder for a specified period of time, usually 5, 10, or 20 years; after that time, the policy is no longer in effect, unless it is renewed for another term.
Premium
The amount paid for an insurance policy.
Face Value
The nominal or stated value of a security or financial instrument, such as a bond, note, or coin.
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