Efficiency Ratio: If Randolph Corp

question 49

Multiple Choice

Efficiency ratio: If Randolph Corp. has accounts receivables of $654,803 and net sales of $1,932,349, what is its accounts receivable turnover?

• A) 0.34 times
• B) 1.78 times
• C) 2.95 times
• D) None of the above

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Definitions:

Business Earnings

The profit made by a business over a period of time, indicating its financial performance and profitability.

Secondary Supply

The provision of goods or services from secondary markets or sources, distinct from primary or direct sources.

Elastic

Describes a situation in which the quantity demanded or supplied of a good is highly responsive to changes in price.

Growth Rate

The percentage increase of a specific variable within a specified time frame, commonly used to measure economic growth, population increase, or company expansion.