Days sales in accounts receivable is calculated by dividing number of days by accounts receivables turnover ratio. Accounts receivables turnover ratio indicates the ratio between the credit sales and accounts receivables. This ratio is calculated by dividing the credit sales by the average balance of accounts receivables. To choose: the assertion of account receivable that is most likely to be violated in case significant decrease in day’s sales in accounts receivable.

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Chapter 10, Problem 10.18MCQ

To determine

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Days sales in accounts receivable is calculated by dividing number of days by accounts receivables turnover ratio. Accounts receivables turnover ratio indicates the ratio between the credit sales and accounts receivables. This ratio is calculated by dividing the credit sales by the average balance of accounts receivables.

To choose: the assertion of account receivable that is most likely to be violated in case significant decrease in day’s sales in accounts receivable.

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