Charmed, Inc. has a beginning Accounts Receivable balance of $63,000 and an ending Accounts Receivable balance of $58,000. Sales are $251,000. What is Charmed, Inc.'s Accounts Receivable turnover rate? (Round your final answer to two decimal places.)
A) 3.98
B) 4.33
C) 4.15
D) 2.07
C) 4.15
Explanation: sales/[(beginning + ending A/R)/2]; ex: $251,000 / [($63,000 + $58,000) / 2] = 4.15
Business
You might also like to view...
Which of the following is a major advantage of mystery shoppers?
a. They are inexpensive. b. Their findings have statistical reliability. c. They are unbiased and without expectations. d. They observe and report on service delivery from up close.
Business
Which of the following is one of the cognitions related to psychological empowerment?
A. lack of meaning B. self-determination C. confidence D. commitment
Business
Define the term package, and explain why it is used.
What will be an ideal response?
Business
Use Scenario 11.3 to answer this question. How many units of N are required to produce 25 end items?
A) 138 B) 150 C) 124 D) 112
Business