A firm has an average accounts payable balance of $180,000. Its average daily cost of goods sold is $12,000. What is the average number of days that the firm takes to pay its debt?
A) 2 days
B) 8 days
C) 15 days
D) 21 days
Correct Answer:
Verified
Q24: Your firm purchases goods from its supplier
Q38: Which of the following statements is FALSE?
A)The
Q65: Bercraft Industries has an average accounts payable
Q66: Which of the following is NOT a
Q67: What is the effective annual cost of
Q68: Which of the following is NOT a
Q69: What is the effective cost of credit
Q73: LeokLee Industries has an average accounts payable
Q74: Evertz Metals buys and stockpiles dolomite to
Q75: What is the effective annual cost 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