Although it normally involves much longer-term commitments, franchising is essentially the service industry version of:

How high can accounts receivable be allowed to grow before the firm's receivables period exceeds 50 days if annual sales equal $5 million and the cash conversion cycle equals 75 days?

A) $1,712,329 B) $1,027,397 C) $342,466 D) $684,932

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Indicate whether the statement is true or false.