The following information was taken from the financial statements of hofburg corp. for the year just ended:
accounts receivable, january 1 $ 21,600
accounts receivable, december 31 30,400
sales on account and cash sales 438,000
uncollectible accounts 1,000
no accounts receivable were written off or recovered during the year. if the direct method is used in its statement of cash flows, hofburg should report cash collected from customers as
a. $447,800
b. $446,800
c. $428,200
d. $429,200

If the ceo of a large, diversified, firm were filling out a fitness report on a division manager (i. e., "grading" the manager), which of the following situations would be likely to cause the manager to receive a better grade? in all cases, assume that other things are held constant. a. the division's basic earning power ratio is above the average of other firms in its industry. b. the division's total assets turnover ratio is below the average for other firms in its industry. c. the division's debt ratio is above the average for other firms in the industry. d. the division's inventory turnover is 6, whereas the average for its competitors is 8.e. the division's dso (days' sales outstanding) is 40, whereas the average for its competitors is 30.