Accounts Receivable on January 1 Was $30,000 And,at the End

question 9

Multiple Choice

Accounts receivable on January 1 was $30,000 and,at the end of the year it was $50,000.Net credit sales were $200,000.Accounts receivable turnover is:

• A)2.5 times.
• B)4 times.
• C)5 times.
• D)6.67 times.

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Definitions:

Hidden Characteristic

A quality of a product or service that is not immediately observable to the buyer, often leading to information asymmetry in the market.

Transitive

In logic and mathematics, transitive refers to a relation where if it applies between successive pairs in a sequence, it also applies between any two members taken in order. For example, if A is larger than B, and B is larger than C, then A is larger than C.

Preferences

Indications of the choices or selections made by individuals or groups based on tastes, likes, or desires, often influencing decision-making.

Condorcet Voting Paradox

A situation in social choice theory where collective preferences can be cyclic (i.e., not transitive), even if the individual preferences of voters are not.