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Bonine Corporation Has Provided the Following Data The Accounts Receivable Turnover for This Year Is Closest To

Question 66

Multiple Choice

Bonine Corporation has provided the following data:  This Year  Last Year Accounts receivable $88,000$106,000 Inventory$178,000$191,000Sales on account $867,000Cost of goods sold $685,000\begin{array}{lrr}&\text { This Year } & \text { Last Year } \\\text {Accounts receivable }&\$ 88,000 & \$ 106,000 \\\text { Inventory}&\$ 178,000 & \$ 191,000 \\\text {Sales on account }&\$ 867,000 & \\\text {Cost of goods sold }&\$ 685,000 &\end{array}

The accounts receivable turnover for this year is closest to:


A) 0.83
B) 8.94
C) 9.85
D) 1.20

Correct Answer:

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