Multiple Choice
In 20X3, P Co reported a trade payables turnover ratio of 2.49 and C Co reported a turnover ratio of 1.74 for that same year. Which of the following statements is true?
A) C Co pays their vendors in a timelier manner than P Co pays their vendors.
B) On a comparative basis to cost sales, P Co carries more in average payables than does C Co.
C) It is unclear if P Co pays their vendors in a timelier manner than C Co.
D) P Co took approximately 147 days while C Co took about 210 days to pay vendors.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: A reciprocal relationship exists between the "future
Q2: A contingent liability is recorded in the
Q3: Present value can be defined as which
Q4: The Canada Pension Plan contribution is a
Q6: Which of the following is not a
Q7: Notes payable are sometimes used instead of
Q8: Shirlen Company has the following partial
Q9: Interest expense is reported under Other Expenses
Q10: Changes in trade payables and accrued liabilities
Q11: Warner Company borrowed $38,000 on a 12%