The Following Information Is from the Annual Financial Statements of Nancy

question 8

Multiple Choice

The following information is from the annual financial statements of Nancy Company.
$$\begin{array} { l r r r } & 2010 & 2009 & 2008 \\\text { Net Sales } & \$ 3 0 7 , 0 0 0 & \$ 2 3 8 , 0 0 0 & \$ 2 8 5 , 0 0 0 \\\text { Accounts Receivable, net (year-end) } & 47,900 & 45,700 & 42,400\end{array}$$

What is the accounts receivable turnover ratio for 2010?

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

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Definitions:

Outsiders

Individuals or groups who are not part of a specific social group or who are perceived as different from mainstream society.

American Dream

The national ethos of the United States, characterized by the ideals of democracy, rights, liberty, opportunity, and equality, where success is achievable by any American through hard work.

Sex

The biological distinction between male and female organisms based on reproductive roles and functions.