Jolly CoHad Net Sales of $111,500 and Accounts Receivable of $12,700

question 114

Multiple Choice

Jolly Co.had net sales of $111,500 and accounts receivable of $12,700.Its days' sales uncollected was

• A)11.7
• B)23.3
• C)41.6
• D)42.5
• E)46.6

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Definitions:

Flood Plains

Flat areas adjacent to rivers and streams that are subject to periodic flooding, often characterized by fertile soil.

Positive Correlation

A relationship between two variables in which both move in the same direction, meaning as one variable increases, the other also increases.

Moral Hazard

A situation in which one party is more likely to take risks because they do not bear the full consequences of their actions, often due to information asymmetry.

Deductible

The amount paid out of pocket by the policyholder before an insurance company pays a claim.