During 2013,Victory Inc

question 11

Multiple Choice

During 2013,Victory Inc.had beginning accounts receivable of $42,000 and ending accounts receivable of $48,000.Its net sales of $450,000 are composed of 20% cash sales and 80% credit sales.Based on this information,what is Victory's receivables turnover ratio?

• A)7.5 times
• B)8.0 times
• C)10.0 times
• D)2.0 times
• E)None of the answer choices is correct.

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Definitions:

Multiculturalism

A societal approach that recognizes, appreciates, and integrates diverse cultural practices, beliefs, and values.

Assimilation

The process by which individuals or groups of differing cultural backgrounds come to see themselves as part of a larger national or cultural group.

Integration

The procedure of merging or bringing together distinct components or aspects to form a cohesive entity.

Hedonism

A philosophy that advocates for the pursuit of pleasure and avoidance of pain as the highest good.