ACCOUNTS RECEIVABLE TURNOVER Definition

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ACCOUNTS RECEIVABLE TURNOVER is the ratio of net credit sales to average accounts receivable, which is a measure of how quickly customers pay their bills.

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SLIDE ERROR is the incorrect placement of the decimal point, e.g. $2545.00 is recorded as $25.45.

EFFORT-EXPENDED METHOD measures the percentage of labor hours incurred to date as compared to estimated total labor hours for each contract.

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