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The Following Information Is from the Annual Financial Statements of Nancy

question 117

Multiple Choice

The following information is from the annual financial statements of Nancy Company.
$\begin{array} { l r r r } & 2010 & 2009 & 2008 \\\text { Net Sales } & \$ 3 0 7 , 0 0 0 & \$ 2 3 8 , 0 0 0& \$ 2 8 5 , 0 0 0 \\\text { Accounts Receivable, net (year-end) } & 47,900 & 45,700 & 42,400\end{array}$
$The following information is from the annual financial statements of Nancy Company. \begin{array} { l r r r } & 2010 & 2009 & 2008 \\ \text { Net Sales } & \$ 3 0 7 , 0 0 0 & \$ 2 3 8 , 0 0 0& \$ 2 8 5 , 0 0 0 \\ \text { Accounts Receivable, net (year-end) } & 47,900 & 45,700 & 42,400 \end{array} What is the accounts receivable turnover ratio for 2009? A) 6.41 B) 4.97 C) 6.72 D) 5.40 E) 5.20$
What is the accounts receivable turnover ratio for 2009?

Definitions:

Exchange Stage

A phase in the development of relationships, especially in the workplace, where mutual values, benefits, and commitments are established between parties.

Group Norms

Shared expectations and rules that guide the behavior of people within a group.

Social Contract

A theory or model that explains how society is organized and individuals' mutual obligations based on an agreement among the society’s members or between the governed and the government.

Maintaining Social Order

Efforts or mechanisms put in place to ensure societal rules and norms are followed, allowing for stable, peaceful coexistence within a community.