The income statement of Generous Company states that during the period it has P60,000 cash. sales and P160,000 credit sales. Its comparative balance sheet showed the balances of its accounts receivable: P60,000 for 2019 and P50,000 for 2020. The receivable turnover is (1 pt) a. 2.91 times b. 4 times C. 1.09 times d. 3 times - 10 Operating budget excludes (1 pt) a. Budgeted income statement b. Budgeted cash flow c. Factory Overhead Budget d. Production Budget 11 The formula in getting the working capital would be (1 pt) a Assets allabilities = working capital b. Current assets liabilities = working capital c. Current assets a quick liabilities = working capital d. Current assets a current liabilities = working capital