Powers Company Reported Net Sales of $1,200,000 and Average Accounts

question 122

Multiple Choice

Powers Company reported Net sales of $1,200,000 and average Accounts Receivable,net of $78,500.The accounts receivable turnover ratio is:

• A)0.65 times.
• B)14.3 times.
• C)28.6 times.
• D)15.3 times.
• E)16.3 times.

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Definitions:

Money Supply

The entire spectrum of monetary assets in an economy at a specific juncture.

High Inflation

A period characterized by a rapid increase in prices, eroding purchasing power.

Moderate Inflation

A situation where the general price level of goods and services rises at a modest rate over time.

Money Demand

The desired holding of financial assets in the form of cash or bank deposits, often influenced by interest rates and economic conditions.