Marie's Clothing Store Had an Accounts Receivable Balance of $420,000

question 23

Multiple Choice

Marie's Clothing Store had an accounts receivable balance of $420,000 at the beginning of the year and a year-end balance of $510,000.Net credit sales for the year totaled $2,100,000.The average collection period of the receivables was:

• A)41 days.
• B)52 days.
• C)81 days.
• D)91 days.

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Definitions:

Emotional Intelligence

The ability to recognize, understand, manage, and reason with emotions in oneself and others.

Muscular Power

The ability of a muscle or group of muscles to exert maximum force in the shortest amount of time.

WAIS Scores

Scores derived from the Wechsler Adult Intelligence Scale, a tool used to measure a person's cognitive ability or intelligence.

Initiating Structure

A leadership behavior characterized by the organizing, structuring, and defining of roles, tasks, and objectives for team members.