A Company Has a Receivables Turnover of 15 Times

question 70

Multiple Choice

A company has a receivables turnover of 15 times.The average net receivables during the period are $430,000.What is the amount of net credit sales for the period?

• A) $430,000
• B) $6,450,000
• C) $6,000,000
• D) $500,000

Utilize standard cost information to calculate net operating income.

Understand the recording process of transactions in a standard cost system.

Grasp the concept of predetermined overhead rates and their application in cost accounting.

Recognize the role of inventory accounts in reflecting the standard costs and variances.

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Definitions:

Psychologists

Professionals who study and treat the cognitive, emotional, and social processes and behavior by observing, interpreting, and recording how people relate to one another and their environments.

Physical Health

A state of well-being in which an individual is physically able to perform their daily activities without restrictions due to illness or injury.

Research

Systematic investigation to establish facts, principles, or generalizable knowledge through experimentation, observation, and analysis.

Health Psychologist

A specialist who studies how biological, psychological, and social factors affect health and illness.