If Nico Corporation has annual purchases of $300,000 and accounts payable of $30,000, then average purchases per day are ________ and the average payment period is ________.
A) 36.5; 821.9
B) 36.0; 833.3
C) 821.9; 36.5
D) 833.3; 36.0
Correct Answer:
Verified
Q118: The two basic measures of liquidity are
Q132: If the inventory turnover is divided into
Q133: The two categories of ratios that should
Q134: As a firm's cash flows become more
Q135: The _ is useful in evaluating credit
Q136: The _ is a measure of liquidity
Q138: The _ measures the activity, or liquidity,
Q140: A firm with a total asset turnover
Q141: Typically, higher coverage ratios are preferred, but
Q142: Gross profit margin measures the percentage of
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