The Following Information Is from the Annual Financial Statements of Nancy

question 148

Multiple Choice

The following information is from the annual financial statements of Nancy Company.
$\begin{array}{lrrr}&2013&2012&2011\\\text { Net sales } & \$ 307,000 & \$ 238,000 & \$ 285,000 \\\text { Accounts receivable, net (year-end) } & 47,900 & 45,700 & 42,400\end{array}$

What is the accounts receivable turnover ratio for 2013?

• A) 6.41
• B) 4.97
• C) 6.72
• D) 5.40
• E) 6.56

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Definitions:

Cured

The complete resolution of a disease or disorder, with no ongoing symptoms or effects of the condition.

Chronic Illness Trajectory

The long-term pattern or course of a chronic illness, which may include periods of worsening symptoms, stability, and possibly improvement.

Illness Etiology

The study and analysis of the causes or reasons behind a particular disease or medical condition.

Chronic Obstructive Pulmonary Disease

A group of lung conditions, including emphysema and chronic bronchitis, that block airflow and make it difficult to breathe.