Based on the Following Data, What Is the Accounts Receivable

question 10

Multiple Choice

Based on the following data, what is the accounts receivable turnover
$\begin{array}{lr}\text { Sales on account during year } & \$ 700,000 \\\text { Cost of goods sold during year } & 270,000 \\\text { Accounts receivable, beginning of year } & 45,000 \\\text { Accounts receivable, end of year } & 35,000 \\\text { Inventory, beginning of year } & 90,000 \\\text { Inventory, end of year } & 110,000\end{array}$

• A) 17.5
• B) 2.6
• C) 20.0
• D) 15.5

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Definitions:

Initial Consultation

The preliminary meeting between a professional, such as a lawyer or consultant, and a client to discuss the client's needs and determine the course of action.

Lawyer Referral

A service, typically provided by bar associations, that helps individuals find attorneys suited to their legal needs.

Lawyer-Client Relationship

The professional bond between a lawyer and their client, characterized by trust, confidentiality, and the obligation to provide competent legal representation.

Sophisticated Client

A client with advanced knowledge or experience in a specific field, often used in legal and financial contexts to denote capability in making informed decisions.