Failure to meet a margin call will cause an investor's futures contract to be sold

The general ledger has a separate account receivable for each customer

Indicate whether the statement is true or false

Evaluating the quality of receivables

(a.) The 2015 annual report of Modern Books, a publicly traded corporation, reports accounts receivable (net of allowance for doubtful accounts), of $190,714 as of February 28, 2015. What assurance do readers of Modern Books ' annual report have that these receivables really exist and are not fictitious assets recorded to make the balance sheet "look good"? (b.) The accounts receivable turnover rate is frequently used in evaluating the liquidity of accounts receivable. How is the accounts receivable turnover rate computed? What type of information does the accounts receivable turnover rate provide? What will be an ideal response?