Frantic Company Had $130,000 in Sales on Account Last Year

question 185

Multiple Choice

Frantic Company had $130,000 in sales on account last year.The beginning accounts receivablebalance was $10,000,and the ending accounts receivable balance was $16,000.The company's accounts receivable turnover was closest to which of the following?

• A) 5.00 times.
• B) 8.13 times.
• C) 10.00 times.
• D) 13.00 times.

Understand the importance of comparing monthly checking account statements with the office's financial records.

Recognize the significance of monitoring changes in disbursements to control expenses.

Identify different types of payment methods including certificates of guaranteed payment.

Comprehend the basics of the accounting process, including the recording of business transactions.

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Definitions:

Control Layout

The arrangement and organization of controls (such as buttons, fields, and menus) within a user interface or application.

Analyze Data

The process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making.

Option Value

In finance, option value refers to the premium that buyers are willing to pay for the right, but not the obligation, to buy (call) or sell (put) an asset at a specified price during a certain period.

Option Group

A collection of options within a software application, grouped to allow a user to select one option from multiple choices.