Credit Sales = $175,000

question 3

Multiple Choice

Credit Sales = $175,000
COGS = $125,000
How many days are in the receivables period?

• A) 43 days
• B) 45 days
• C) 47 days
• D) 61 days
• E) 64 days

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Definitions:

Liquidator

A person or entity appointed to wind up the affairs of a company and dispose of its assets in the event of its liquidation.

Winding Up

The process of concluding a company's affairs, settling its liabilities, and distributing the remaining assets to the shareholders or owners.

Corporations Act

The legislation governing corporate practices, including financial reporting and corporate governance, in particular jurisdictions such as Australia.

Just and Equitable

Principles used in legal contexts to ensure fairness and justice in the application or interpretation of laws or regulations.