Faldo Corp Sells on Terms That Allow Customers 45 Days

question 105

Multiple Choice

Faldo Corp sells on terms that allow customers 45 days to pay for merchandise.Its sales last year were $325,000,and its year-end receivables were $60,000.If its DSO is less than the 45-day credit period,then customers are paying on time.Otherwise,they are paying late.By how much are customers paying early or late? Base your answer on this equation: DSO − Credit Period = Days early or late,and use a 365-day year when calculating the DSO.A positive answer indicates late payments,while a negative answer indicates early payments.

• A)21.27
• B)22.38
• C)23.50
• D)24.68
• E)25.91

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Definitions:

Nomothetic Approach

A research approach that seeks general laws and principles through the study of groups of people.

Continuum

A continuous sequence in which adjacent elements are not perceptibly different from each other, but the extremes are quite distinct.

Cardinal Trait

A dominant personality trait that defines a person's actions, attitudes, and behaviors consistently across different situations.

Dominant Traits

Characteristics in an organism that are expressed when at least one dominant allele is present in the genotype.