Two ratios that provide insight on the relationship between credit sales and receivables are:
A. Average days to collect receivables and asset turnover.
B. Accounts receivable turnover and current ratio.
C. Current ratio and inventory turnover ratio.
D. Accounts receivable turnover and average days to collect receivables.
Answer: D
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Which of the following countries is a member of Mercosur?
A. China B. Paraguay C. Greece D. Panama E. Mexico
Xavier and Yolanda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net loss of $6,000 is allocated to Yolanda?
A) $1,000 B) $3,000 C) $5,000 D) $0
In a small business, the customer accounts are usually kept in alphabetical order.
Answer the following statement true (T) or false (F)
Under the RUPA, dissolution is the equivalent of termination of a partnership
Indicate whether the statement is true or false