Consider the Following Information What Is the Accounts Receivable Turnover?
A)1)20
B)2)92
C)11

question 64

Multiple Choice

Consider the following information: $\begin{array}{ll}\text { Cash sales } & \$ 59,000 \\\text { Credit sales } & 510,000 \\\text { Beginning Cash } & 18,000 \\\text { Ending Cash } & 11,500 \\\text { Beginning Retained Earnings } & 32,300 \\\text { Ending Retained Earnings } & 41,700 \\\text { Beginning Accounts Receivable } & 40,000 \\\text { Ending Accounts Receivable } & 50,000 \\\text { Net Income } & 64,000\end{array}$
What is the accounts receivable turnover?

• A)1)20
• B)2)92
• C)11.33
• D)12.64
• E)13.78

---

Definitions:

Producer Surplus

The discrepancy between the price at which sellers are prepared to offer a product and the actual selling price they obtain.

Market Failure

The failure of a market to be efficient; when the individual pursuit of self-interest leads to bad results for society as a whole.

Market Power

The ability of a producer to raise prices.

Externalities

External benefits and external costs.