Multiple Choice
Which one of the following statements is correct if a firm has a receivables turnover of 10?
A) It takes the firm 10 days to collect payment from its customers.
B) It takes the firm 36.5 days to sell its inventory and collect the payment from the sale.
C) It takes the firm an average of 36.5 days to sell its items.
D) The firm collects its credit sales in an average of 36.5 days.
E) The firm has ten times more in accounts receivable than it does in cash.
Correct Answer:
Verified
Correct Answer:
Verified
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