At the Beginning of the Year,Vici Ventures Had Accounts Receivable

question 95

Multiple Choice

At the beginning of the year,Vici Ventures had accounts receivable of $220,000.At the end of the year,the company had accounts receivable of $340,000.During the year,Vici had total sales of $1,000,000,70% of which were credit sales.What was Vici's receivables turnover ratio for the year?

• A)2.50.
• B)3.57.
• C)2.94.
• D)146 days.

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Definitions:

Culture Change

Refers to the dynamic process through which the customs, beliefs, art, and institutions of a society transform over time.

Male Dominance

A social, economic, and cultural pattern in which males hold primary power and predominate in roles of political leadership, moral authority, and control of property.

Descent Reckoning

A method of tracing kinship and lineage, either through patrilineal (father's line) or matrilineal (mother's line) descent.

Cultural Crisis

A situation in which there is a major disruption or challenge to the established norms, values, or identity of a cultural group.