Multiple Choice
Assuming a 365 day year, Gore Industries calculated an average of 53 days to collect its accounts receivable in 2007. During 2007, Gore's accounts receivable turnover rate:
A) Was approximately 6.89.
B) Was equal to 53 times its average accounts receivable.
C) Was approximately 0.15.
D) Can't be determined from this information alone.
Correct Answer:
Verified
Correct Answer:
Verified
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