Espat Corp

question 143

Multiple Choice

Espat Corp.reported net sales (all on credit) of $1,600,000 and cost of goods sold of $1,100,000 for 2017.Its beginning balance of Accounts Receivable was $150,000.The accounts receivable balance decreased by $10,000 during 2017.Rounded to two decimal places,what is Espat's accounts receivable turnover ratio for 2017?

• A)7.59
• B)10.32
• C)10.67
• D)11.03

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Definitions:

Exocytosis

A process in which cells expel materials from the cell interior into the extracellular space by vesicles merging with the plasma membrane.

Extracellular Matrix

A network of non-living tissues that provide structural and biochemical support to cells.

Proteins

Large biomolecules composed of amino acids, essential for structure, function, and regulation of the body's tissues and organs.

Polysaccharides

Large carbohydrate molecules composed of long chains of monosaccharide units bonded together, involved in energy storage and structural support.