Nicholas Would Like to Improve the Management of His Company's

question 63

Multiple Choice

Nicholas would like to improve the management of his company's accounts payable. One metric he might find useful is

• A) days in credit.
• B) days in inventory.
• C) days in payables.
• D) the average collection period.

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Definitions:

Demand Functions

An equation that illustates the relationship between the price of a product and the quantity demanded by consumers.

Income Offer Curve

A graphical representation showing how changes in income affect the quantities of goods consumed, holding prices constant.

Prices

The monetary value necessary to acquire a good or service.

Income

Periodic earnings from professional activities or financial investments.