The accounts receivable turnover is calculated by:
A. Dividing net sales by average accounts receivable and multiplying by 365.
B. Dividing average accounts receivable by net sales and multiplying by 365.
C. Dividing average accounts receivable by net sales.
D. Dividing net income by average accounts receivable.
E. Dividing net sales by average accounts receivable.
Answer: E
You might also like to view...
On a statement of cash flows prepared using the direct method, the FASB requires that cash payments for interest be classified as operating activities
Indicate whether the statement is true or false
The terms change and innovation are not identical concepts
Indicate whether the statement is true or false
Which of the following is true for an auction without reserve?
A. The bidder is considered the offeror. B. The seller need not accept the highest bid. C. The auctioned item cannot be withdrawn from sale. D. The auctioneer is not allowed to establish a minimum bid.
The Good Housekeeping Seal of Approval is an example of a
a. trademark. b. service mark. c. collective mark. d. certification mark.