ABC Has Net Sales on Account of $1,200,000

question 31

Multiple Choice

ABC has net sales on account of $1,200,000. The average net account receivables are $600,000. The days' sales in receivables is:

• A) 439.8 days.
• B) 304.0 days.
• C) 182.5 days.
• D) 8.7 days.

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Definitions:

Converting

The act of changing something into a different form or the process of adopting a new belief system or religion.

Phases

Describes distinct stages or periods in a process of development or change.

Collective Conscience

A set of shared beliefs, ideas, and moral attitudes which operate as a unifying force within society, according to Emile Durkheim.

Shared Meanings

The common understanding or interpretation of signs, symbols, or behaviors among members of a society or group.