The 2012,2013 and 2014 Partial Balance Sheets for Ottoman Manufacturing

question 39

Multiple Choice

The 2012,2013 and 2014 partial balance sheets for Ottoman Manufacturing Company appear below.
Net credit sales for Ottoman were $126,000 for 2012,$120,000 for 2013 and $114,000 for 2014 while cost of goods sold was $84,000 for 2012,$82,400 for 2013 and $72,500 for 2014.
What is the accounts receivable turnover for 2013?

• A) 3.75 times
• B) 4.61 times
• C) 5.00 times
• D) 6.00 times

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Definitions:

Initiating Structure

A leadership behavior that organizes and defines what group members should be doing to maximize output.

Authority-Obedience Management

A management style focused on clear hierarchies and the strict following of orders, where managerial authority is emphasized, and obedience from subordinates is expected.

Concern For People

A focus within an organization on the well-being, growth, and satisfaction of its employees.

Planning And Assigning

The process of setting objectives and deciding how to efficiently distribute tasks and resources to achieve these objectives.