A Company Has a Receivables Turnover of 15 Times

question 70

Multiple Choice

A company has a receivables turnover of 15 times.The average net receivables during the period are $430,000.What is the amount of net credit sales for the period?

• A) $430,000
• B) $6,450,000
• C) $6,000,000
• D) $500,000

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Definitions:

Arms Control Treaty

An agreement between nations to regulate and limit the development, production, stockpiling, proliferation, and deployment of armaments.

Carter Doctrine

A policy proclaimed by President Jimmy Carter in 1980, declaring that the United States would use military force if necessary to defend its national interests in the Persian Gulf region.

Soviet Aggression

Refers to the actions taken by the Soviet Union to expand its influence and control over other nations, particularly during the Cold War era.

Persian Gulf

A shallow arm of the Arabian Sea between Iran and the Arabian Peninsula, known for its strategic location and vast oil resources.