Question 34 (2 points) What relationship exists between the average collection period and accounts receivable turnover? Both ratios are expressed in number of times receivables are collected per year. As average collection period increases (decreases) the accounts receivable turnover decreases (increases). Both ratios are expressed in number of days. There is a direct and proportional relationship. Question 35 (2 points) 1. Which of the following expense items is NOT discretionary in nature? Repairs and maintenance. Advertising. Research and development. Wages to union employees