Potaw Company Reported the Following Data at the End of 2016

question 25

Multiple Choice

Potaw Company reported the following data at the end of 2016: What was the accounts receivable turnover ratio?

• A)30.0
• B)37.5
• C)36.5
• D)22.5

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Definitions:

Common Stock

Represents equity ownership in a corporation, giving shareholders voting rights and a claim on a portion of the company's profits through dividends.

Treasury Shares

Shares that were issued and then repurchased by the issuer, reducing the quantity of outstanding stock.

Outstanding Shares

The total number of shares of a company's stock currently held by all its shareholders, including share blocks and restricted shares.

Issued Shares

The total number of shares that have been sold to and are held by shareholders.