Fido's Markets Has a Cash Cycle of 24 Days, an Operating

question 96

Multiple Choice

Fido's Markets has a cash cycle of 24 days, an operating cycle of 39 days, and an inventory period of 2.3 days.The company reported cost of goods sold in the amount of $465,250, and credit sales were $600,000.What is the company's average balance in accounts payable?

• A)$19,120
• B)$18,414
• C)$20,203
• D)$22,344
• E)$23,515

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Definitions:

Colour Vision

The ability of the visual system to distinguish between light based on its wavelength composition.

Additive Colour Mixing

A process by which colors are created by mixing different colors of light, with primary colors including red, green, and blue.

Subtractive Colour Mixing

A process involving the mixing of colored pigments where the combined colors absorb certain wavelengths of light and reflect others, creating a new color.

Complex Feature Detection

The ability of the brain to identify and process multifaceted aspects of sensory input for recognition and interpretation.