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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Definitions:

Supply Organization

A structured body or team within a company that is responsible for managing the sourcing, procurement, and supply chain processes.

Teams

Groups of individuals working together to achieve a common goal or task.

Leadership

The art of motivating and guiding individuals or groups toward achieving common objectives, often involving decision-making, and strategic vision.

Strategic Roles

Positions or responsibilities within an organization focused on developing long-term objectives and ensuring the alignment of operations with overall mission and goals.