Assuming a 365 Day Year, Gore Industries Calculated an Average

question 212

Multiple Choice

Assuming a 365 day year, Gore Industries calculated an average of 53 days to collect its accounts receivable in 2007. During 2007, Gore's accounts receivable turnover rate:

• A) Was approximately 6.89.
• B) Was equal to 53 times its average accounts receivable.
• C) Was approximately 0.15.
• D) Can't be determined from this information alone.

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Problem Solving Experience

The practical application of methodologies and critical thinking to identify solutions to complex or challenging situations, typically requiring creativity and logical reasoning.

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