SSS Ltd Has Provided the Following Information from Its Financial

question 33

Multiple Choice

SSS Ltd has provided the following information from its financial statements for the year ended 30 June 2018. $$\begin{array} { l r } \text { Sales (all on credit) } & \$ 2,000,000 \\\text { Gross profit on sales } & 1,000,000 \\\text { Net profit } & 150,000 \\\text { Cost of sales } & 1,000,000 \\\text { Inventory at end of year } & 200,000 \\\text { Accounts receivable at end of year } & 500,000\end{array}$$
-The company trades 365 days per year. The number of times SSS's accounts receivable turned over for 2018 is:

• A)5.0 times.
• B)1.8 times.
• C)3.8 times.
• D)4.0 times.

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