A Firm Has Accounts Receivable of $150,000

question 59

Multiple Choice

A firm has accounts receivable of $150,000.During the year,total sales are $500,000,of which $300,000 are cash sales.What is the average collection period?

• A) 109.5 days
• B) 182.5 days
• C) 273.8 days
• D) 486.7 days
• E) None of the above

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Definitions:

Inflict Harm

The act of causing physical, emotional, or psychological injury or damage to someone.

Informational Influence

The effect of information or data provided by others in shaping one's beliefs, opinions, or behaviors, often within a group context.

Normative Influence

Refers to the impact of societal norms on an individual's behavior, aiming to conform in order to be accepted by others.

Conforming

Adjusting one's behavior or beliefs to align with those of a group or with societal norms.