Helium Corp

question 90

Multiple Choice

Helium Corp. provides the following information for 2020 and 2021: To one decimal, Helium's days payable outstanding for 2021 is

• A) 43.6 days.
• B) 46.2 days.
• C) 47.2 days.
• D) 48.7 days.

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Definitions:

Balance Sheet

A financial statement that summarizes a company's financial position at a specific point in time, detailing assets, liabilities, and shareholders' equity.

Sales On Account

Transactions where goods or services are sold but payment is deferred to a future date, typically recorded as accounts receivable.

Cost Of Goods Sold

Costs directly related to creating products for sale by a company, encompassing expenditures for labor and materials.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a specific period, indicating the efficiency of inventory management.