Pinecrest Company Use the Selected Data from Pinecrest Company's Financial

Pinecrest Company Use the selected data from Pinecrest Company's financial statements to answer the following question.
Refer to the data for Pinecrest Company.
Competitors in Pinecrest Company's industry have an average accounts receivable turnover of 7.8 times.Pinecrest reported accounts receivable at December 31,2012 of $57,200.Pinecrest's accounts receivable turnover for 2014 is:

A) an indicators that the company needs to tighten its credit policies.
B) of no value to bankers and other creditors.
C) less efficient in 2014 than in 2013.
D) significantly below the standards required by the U.S.government.

Correct Answer:

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