If Net Sales Total $50,000,beginning Accounts Receivable Was $10,000,and Ending

question 43

Multiple Choice

If net sales total $50,000,beginning accounts receivable was $10,000,and ending accounts receivable is 16,000,what is the receivables turnover?

• A)1.9 times
• B)3.1 times
• C)3.8 times
• D)5 times

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Definitions:

Wholly Owned Subsidiary

A company whose entire stock is held by another company, making it completely controlled by the parent company.

Complete Ownership

Having full legal rights and control over a property or asset without any restrictions.

Licensing

The process of obtaining permission from a governmental or regulatory authority to conduct certain activities that are otherwise restricted.

Trademark

A recognizable sign, design, or expression which identifies products or services of a particular source from those of others, legally protected under intellectual property laws.