The Following Information Is from the Annual Financial Statements of Nancy

question 20

Multiple Choice

The following information is from the annual financial statements of Nancy Company.
$\begin{array}{lrrr}&2010&2009&2008\\\text { Net Sales } & \$ 307,000 & \$ 238,000 & \$ 285,000 \\\text { Accounts Receivable, net (year-end) } & 47,900 & 45,700 & 42,400\end{array}$
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:

Research And Development Facility

A specialized workspace dedicated to the exploration and creation of new products, services, or technologies.

Pharmaceutical Company

A commercial business licensed to research, develop, market, and/or distribute drugs, most commonly in the context of healthcare.

Ethnocentric Staffing Model

A staffing approach used by multinational companies that primarily uses parent country nationals to staff higher-level foreign positions.

International Business

The carrying out of trade and investment activities by firms across national borders, encompassing the management of international operations.