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:

Intangibles

Assets that lack physical substance but possess value, such as patents, trademarks, and goodwill.

Amortization Method

A technique used to gradually write off the initial cost of an asset over a period, reflecting its consumption, wear and tear, or obsolescence.

Intangible Asset

An asset that lacks physical substance, such as intellectual property, brand recognition, and trademarks.

Uncertainty

A situation where the outcome, extent, or implications of an event or condition are unknown or unpredictable.