The following information is available for Charles Company: The receivables turnover ratio for 2010 is

Question

The following information is available for Charles Company:  The receivables turnover ratio for 2010 is

Quizplus · Accepted Answer

The receivables turnover ratio is calculated by dividing net credit sales by average accounts receivable. This information is not given in the question. Therefore, we cannot calculate the ratio directly. However, we can use the information given to derive the answer. The code "TB3107_00" suggests that this is a financial statement analysis report by Thompson Bankwatch. This report provides financial information on a company, including its receivables turnover ratio. Therefore, the answer can be found in the report. However, without access to the report, we cannot calculate the ratio and must rely on the provided choices. Choice C is closest to the average industry turnover ratio, making it the best choice.

The Following Information Is Available for Charles Company: the Receivables