A Firm Ended the Year with an Average Collection Period

question 98

Multiple Choice

A firm ended the year with an average collection period of 20 days. The firm's credit sales were $50 million. What is the firm's year-end balance in accounts receivable?

• A) $1.46 million
• B) $2.50 million
• C) $2.74 million
• D) $4.00 million

Define and distinguish between epidemics and pandemics.

Understand the benefits of vaccination in reducing the severity of diseases.

Know the genetic composition of influenza viruses.

Predict trends in emerging pathogens due to human interaction with the environment.

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Definitions:

Operations Splitting

A technique in production scheduling where a single operation or job is split into smaller tasks or parts to be worked on simultaneously on different machines or work centers to reduce completion time.

MRP

Material Requirements Planning, a system for calculating the materials and components needed to manufacture a product.

Product Quality

The characteristics of a product that determine its ability to satisfy stated or implied customer needs, including aspects such as functionality, reliability, and durability.

Inventory Levels

The quantity of goods or materials held in stock by a business at a given time, affecting production and sales processes.