Multiple Choice
Your company has net sales of $468,300 and average trade receivables of $111,500 for the year.Which of the following is true?
A) The receivables turnover ratio is 4.2 and the days-to-collect is 0.012.
B) The receivables turnover ratio is .24 and the days-to-collect is 1,520.
C) The receivables turnover ratio is 4.2 and the days-to-collect is 86.9.
D) The receivables turnover ratio is .24 and the days-to-collect is 87.6.
Correct Answer:
Verified
Correct Answer:
Verified
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