How is the accounts receivable turnover computed? What information does this ratio provide?
What will be an ideal response?
Accounts receivable turnover ratio = Sales ÷ Accounts receivable
Dividing a company's sales by its net accounts receivable tells how many times the net accounts receivable balance is "turned over" (converted into cash) each year. The higher the turnover, the shorter the collection period. Higher turnovers are preferable.
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Generally speaking, which of the following statements is true concerning product attributes?
A) Tangible product attributes are more important than intangible ones. B) Intangible product attributes are more important than tangible ones. C) Both tangible and intangible product attributes are important. D) Neither tangible nor intangible product attributes are important. E) A product has more attributes than tangible and intangible ones.
A $200 credit to Interest Payable was instead recorded in error as a $200 credit to Cash in an adjusting entry, which has been posted to the ledger accounts. Which of the following is the result of this error?
A. Total assets are understated by $200. B. Net income is overstated by $200. C. Total liabilities are overstated by $200. D. The trial balance is out of balance by $200.
The resources owned by David's Spa and Salon total $148,000. The total amount of debt that it owes to others is $87,000. Which of the following is correct?
A) David's owners' equity is $87,000. B) The owners' equity in David's is $61,000. C) David's liabilities are $148,000. D) The firm's liabilities are $61,000. E) The firm has more owners' equity than liabilities.
Answer the following statement(s) true (T) or false (F)
1. The image of management as a controlling function has deep historical roots. 2. The image of management as a shaping function, enhancing both individual and organizational capabilities, has deep roots. 3. Power-coercive strategies rely on achieving the intended outcomes through the compliant behavior of those who have less power. 4. Power-coercive strategies of change assume that changes occur when people abandon their old orientations and commit to new ones. 5. Both intended and unintended consequences may emerge from the actions of change managers.