Installation of unauthorized hardware and programs may interfere with automated maintenance programs used for upgrading a user's computer

Which of the following statements regarding the date of a cash dividend declaration is not accurate?

a. The dividend can be rescinded once it has been declared. b. The corporation is committed to a legal, binding obligation. c. The board of directors formally authorizes the cash dividend. d. A liability account must be increased.

McFadden Clothing Store reported the following selected items at June 30, 2017 (last year - 2016 - amounts are also given as needed)

Cash $ 80,000 Accounts Receivable, net: June 30, 2017 June 30, 2016 45,000 53,000 Accounts Payable 55,000 Cost of Goods Sold 288,000 Merchandise Inventory June 30, 2017 June 30, 2016 70,000 90,000 Net Credit Sales Revenue 480,000 Long-Term Assets 220,000 Long-Term Liabilities 140,000 Other Current Assets 150,000 Other Current Liabilities 130,000 Short-term Investments 40,000 Compute McFadden's accounts receivable turnover ratio 2017. Show your computations. (Round the answer to 2 decimal places. ) What will be an ideal response