Use the Table for the Question(s)below

question 21

Multiple Choice

Use the table for the question(s) below.
Luther Industries had sales of $980 million and a cost of goods sold of $560 million in 2019.A simplified balance sheet for the firm appears below:
Luther Industries
Balance Sheet
As of December 31,2019
(millions of dollars)
-Luther's accounts payable days is closest to:

• A)39 days.
• B)32 days.
• C)59 days.
• D)42 days.

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Definitions:

Productivity

The measure of the efficiency of a person, machine, factory, or system in converting inputs into useful outputs.

Technical Assistance

Support provided, typically in the form of expertise or training, to help organizations, countries, or businesses improve their performance.

Isocost Line

A graphical representation in economics that shows all possible combinations of inputs that have the same total cost.

Fuel-Efficient Rate

A measure of how effectively a vehicle converts fuel into travel distance, often expressed in miles per gallon (mpg) or liters per 100 kilometers (l/100km).