Z-Mart Had Net Sales of $31,500 and Accounts Receivable of $2,700.To

question 16

Multiple Choice

Z-Mart had net sales of $31,500 and accounts receivable of $2,700.To one decimal,Z-Mart's days' sales uncollected was:

• A) 11.7.
• B) 23.3.
• C) 28.6
• D) 31.3.
• E) 46.6.

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Definitions:

Net Income

The profit a company holds onto after subtracting expenses and taxes from its accumulated revenues.

Common Stock

A type of equity security that represents ownership in a corporation, providing voting rights and a residual claim on corporate earnings and assets.

Dividends

Payments made by a corporation to its shareholder members, usually derived from the company's earnings, distributed according to the number of shares each owns.

Income Statement

A financial report that shows a company’s revenues, expenses, and profit over a specified period of time.