Given an Accounts Receivable Turnover of 8 and Annual Credit

question 9

Multiple Choice

Given an accounts receivable turnover of 8 and annual credit sales of $362 000, the average collection period (360-day year) is [blank].

• A)90 days
• B)45 days
• C)75 days
• D)60 days

---

Definitions:

Global Code

Code that is accessible from any point within the scope of an application, not limited by local context.

Standard Modules

Reusable blocks of code in a programming environment that perform a particular function and can be incorporated into applications.

Macros

Automated sequences of actions or commands designed to simplify repetitive tasks in software applications.

VBA Keyword

Specific words or phrases reserved by Visual Basic for Applications (VBA) used to perform certain actions or to denote specific functions in code.