The Collection Period of Armie's for 2011 Was 30 Days;

question 74

Multiple Choice

The collection period of Armie's for 2011 was 30 days; total credit sales were $7,300,000; and average receivables were $600,000. If sales increase to $8,030,000, and the average receivables stays the same, what happens?

• A)The collection period is now 32 days.
• B)The average receivables are now $660,000.
• C)One day's sales equals $20,000.
• D)The collection period is now 27 days.

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Definitions:

Seligman

A psychologist known for his work on learned helplessness, positive psychology, and theories on depression and wellbeing.

External Factors

Elements outside an individual that can influence their behavior, thoughts, and feelings.

Decreased Interest

A phenomenon where an individual shows less enthusiasm or engagement in activities they previously found appealing.

Depressed

Experiencing persistent sadness, low mood, and a lack of interest or pleasure in normally enjoyable activities.