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SOFE Exam SOFA-CFE Topic 3 Question 104 Discussion

Actual exam question for SOFE's SOFA-CFE exam
Question #: 104
Topic #: 3
[All SOFA-CFE Questions]

The receivable turnover can be calculated by which of the following formula:

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Suggested Answer: A

by Aileen at Dec 09, 2024, 08:30 PM

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Hester
3 months ago
I feel like Option D is trying to trick us. Gross sales on receivables? That doesn't sound quite right. I'm sticking with Option A.
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Denise
3 months ago
Haha, 'Average Gross Account'? Really? That's a new one. I'm going with Option A, it's the classic formula we learned in class.
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Fausto
2 months ago
Yeah, 'Average Gross Account' does sound odd. Option A is the formula I'm familiar with too.
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Lucia
2 months ago
I think Option A is the correct formula for calculating receivable turnover. It's the one I remember as well.
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Carman
2 months ago
I agree, 'Average Gross Account' does sound strange. Option A seems like the most logical choice.
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Maryrose
3 months ago
Hmm, I'm not sure about this one. Option C looks a bit off to me, but I'm going to have to think it through more.
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Carlee
2 months ago
D) Receivable turnover = Gross Sales on Receivables / Average Gross Account
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Abel
2 months ago
C) Receivable turnover = Net Sales on Receivables / Average Net Account
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Cecil
2 months ago
B) Receivable turnover = Gross Sales on Account / Average Gross Receivables
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Jamie
2 months ago
A) Receivable turnover = Net Sales on Account / Average Net Receivables
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Audry
3 months ago
I believe the correct formula is A, as it calculates the turnover based on net sales and average net receivables.
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Ashlee
3 months ago
I think Option B is the way to go. Gross sales on account and average gross receivables are more commonly used in this calculation.
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Inocencia
3 months ago
Option A seems to be the correct formula for calculating receivable turnover. It makes sense to use net sales on account and average net receivables.
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Shizue
3 months ago
Yes, using net sales on account and average net receivables makes the most sense.
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Mollie
3 months ago
I agree, option A is the correct formula for calculating receivable turnover.
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Layla
3 months ago
I'm not sure, but I think it might be C.
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Corazon
3 months ago
I agree with Gregoria, because it makes sense to use Net Sales on Account for receivable turnover.
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Gregoria
4 months ago
I think the answer is A.
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