Selected data from the financial statements are provided below:
Rags to Riches
-Refer to Rags to Riches. Which of the following would result from a horizontal analysis of the company's balance sheet?
A) Accounts receivable increased $22,000 or 57.9% during 2015.
B) Accounts receivable is five times larger than inventory in 2015.
C) Accounts receivable is 13.3% of total assets in 2015.
D) The accounts receivable turnover ratio is 7.76 in 2015.
Correct Answer:
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