Lasiter Corp

question 71

Multiple Choice

Lasiter Corp.reported net credit sales of $2,000,000 and cost of goods sold of $1,400,000 for 2017.On January 1,2017,accounts receivable was $250,000.Amounts owed by customers increased by $20,000 during 2017.Rounding to two decimal places,what is Lasiter's accounts receivable turnover ratio for 2017?

• A)8.33
• B)8.00
• C)7.69
• D)7.41

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Definitions:

Tend and Befriend

A theory that suggests in times of stress, individuals, particularly females, will seek social alliances and support, rather than isolating themselves or fighting.

Stressful Situations

Scenarios that cause psychological or physical tension or strain.

Social Networks

Platforms or structures made up of individuals or organizations that are connected through various social relationships, like friendships or professional ties.

Communal Orientation

An approach or attitude towards social interactions where individuals prioritize the needs and welfare of their community or group over their personal gains.