Use This Information to Answer the Following Questions:
the Financial

question 33

Multiple Choice

Use this information to answer the following questions:
The financial records of Del Ltd reveal the following at 30 June 2012 :
$\begin{array}{lr} & \$ \\ \text { Net sales for year } & 120,000 \\ \text { Cost of goods sold for year } & 90,000 \\ \text { Inventory, 1 July 2011 } & 27,000 \\ \text { Accounts receivable, 1 July } 2011 & 18,300 \\ \text { Inventory 30 June } 2012 & 33,000 \\ \text { Accounts receivable, 30 June 2012 } & 21,700\end{array}$
-If Del Ltd reduces the number of days' sales in receivables to 37.5,what will be the new accounts receivable turnover?

• A) 6 times p.a.
• B) 9.7 times p.a.
• C) 12 times p.a.
• D) 8 times.

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Definitions:

Al-Anon

A support group designed for the families and friends of individuals suffering from alcoholism, offering a community focused on sharing experiences and strategies for coping.

Alcoholics Anonymous

A self-help group and fellowship of individuals who share their experience, strength, and hope with each other that they may solve their common problem and help others to recover from alcoholism.

Blood By Volume

A measure of the amount of blood in an organism's body, expressed as a percentage of total body volume.

State Of Intoxication

A temporary condition induced by consuming substances that can impair cognitive and physical functions.