The manager of your receivables' department states that the firm's accounts receivable turnover is 25.Which of the following statements is a true interpretation of this value?
A) It takes about 25 days, on average, for customers to pay for their account
B) It takes about 15 days, on average, for customers to pay for their account QUOTE
C) It takes about 2 days, on average, for customers to pay for their account
D) None of the above
Correct Answer:
Verified
Q20: A firm can reduce its burn rate
Q21: The operating cycle allows firms to estimate
A)the
Q22: Why is sales figure rather than cost
Q23: The two components of the operating cycle
Q24: The inventory turnover ratio is defined as:
A)The
Q26: Use the following statements to answer this
Q27: A "good" value for the current ratio
Q28: The average collection period measures
A)How long it
Q29: What are the two most common measures
Q30: Which of the following is true regarding
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents