Multiple Choice
Martin's Method Acting School has a current ratio of 2, a quick ratio of 1.8, net income of $180,000, a profit margin of 10%, and an accounts receivable balance of $150,000. What is the firm's average collection period?
A) 50 days
B) 43 days
C) 30 days
D) 24 days
E) 16 days
Correct Answer:
Verified
Correct Answer:
Verified
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