Smart and Smiley Incorporated Has an Average Collection Period of 74

question 2

Multiple Choice

Smart and Smiley Incorporated has an average collection period of 74 days. What is the accounts receivable turnover ratio for Smart and Smiley?

• A) 4.93
• B) 2.47
• C) 2.66
• D) 1.68

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Definitions:

Economic Times

A general term that can refer to the current state of the economy, often used to discuss economic conditions or a newspaper covering economic news.

Functional Manager

A manager responsible for a specific department or function within an organization, such as finance, marketing, or operations.

Single Area

Concentrating or focusing efforts, resources, or operations in one particular or specific domain or location.

Team Leaders

Individuals who are responsible for guiding, directing, and managing the dynamics and performance of a team to achieve set objectives.