Multiple Choice
A firm has annual credit sales of $2 million, an average debtor's balance of $300,000 and works 365 days a year. The average settlement period for debtors is:
A) 150 days.
B) 15 days.
C) 66.7 days.
D) 54.7 days.
Correct Answer:
Verified
Correct Answer:
Verified
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