Britt Company
Selected data from Britt Company's financial statements are provided below.
-Refer to the selected financial data for Britt Company. Assume that competitors in Britt's industry have an average receivable turnover ratio of 7.8 times in 2012. Britt's receivable turnover ratio for 2012 is:
A) an indicator that Britt has tightened its credit policies.
B) of no value to bankers and other creditors.
C) indicating that Britt's collection policies are less strict than those of its competitors.
D) significantly above the industry average.
Correct Answer:
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