Which of the following ratios indicates how rapidly the firm's credit accounts are being collected?

A) Debt ratio
B) Gross profit margin
C) Accounts receivable turnover ratio
D) Fixed asset turnover

Answer: C

Business

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A company paid $20 per share to purchase 500 shares of its common stock as treasury stock. The stock was originally issued at $16 per share. The journal entry to record the purchase of the treasury stock is ______.

a. debit Common Stock $10,000; credit Cash $10,000 b. debit Treasury Stock $10,000; credit Cash $10,000 c. debit Treasury Stock $5,000 and Paid-in Capital in Excess of Par $5,000; credit Cash $10,000 d. debit Treasury Stock $8,000 and Retained Earnings $2,000; credit Cash $10,000 e. debit Treasury Stock $8,000; credit Cash $8,000

Business

In both civil and criminal cases it is the responsibility of the jury to:

A. Investigate the criminal background of the defendant. B. Determine whether a lawyer should be sanctioned for misconduct in the trial C. Determine whether or not a witness should be allowed to testify in the trial. D. Resolve questions of law. E. Resolve questions of fact.

Business