[The Following Information Applies to the Questions Displayed Below

question 68

Multiple Choice

[The following information applies to the questions displayed below.]
Given below are comparative balance sheets and an income statement for Eleva Corporation.
All sales were made on account.Cash dividends declared during the year totaled $22,984.
-Eleva Corporation's days to collect accounts receivable for 2018 is:

• A)54.7 days.
• B)67.3 days.
• C)88.0 days.
• D)94.0 days.

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Definitions:

Client Confidentiality Rule

Legal and ethical obligation of professionals to keep information related to a client secret unless given permission to disclose.

Financial Condition

The status of an individual's or organization's financial health and stability, often assessed through analysis of assets, liabilities, income, and expenditures.

Conflict of Interest

A situation where an individual's or entity's personal interests could potentially interfere with their professional duties or responsibilities.

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