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:

Specific Interventions

Targeted actions or policies designed to address a specific issue or problem within a system or sector.

Social Overhead Capital

Public infrastructure investments made by the government or public sector, essential for economic development, such as roads, schools, and hospitals.

Economic Growth

An increase in the amount of goods and services produced per head of the population over a period of time, often reflected in an increase in the GDP.

Social Overhead Capital

Capital invested in public infrastructure and services such as transportation, utilities, and education systems, essential for economic development.