With a Beginning Accounts Receivable Balance of $20,000,an Ending Balance

question 107

Multiple Choice

With a beginning Accounts Receivable balance of $20,000,an ending balance of $26,000,and net credit sales of $408,000,compute accounts receivable turnover ratio.

• A)0.05
• B)20.4
• C)17.7
• D)68

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Definitions:

Economy

The system of production, distribution, and consumption of goods and services within a particular geographic region, often analyzed to determine health and growth.

Service Sector

The segment of the economy that provides services rather than goods, including healthcare, education, finance, and retail.

Primary and Secondary Sectors

The primary sector involves the extraction and harvesting of natural resources, while the secondary sector focuses on the transformation of these resources into finished goods through manufacturing.

Work

An activity involving mental or physical effort done in order to achieve a purpose or result, often associated with a profession or job.