StarrKnight Corporation's Statement of fiNancial Position and Income Statement as Shown

question 33

Multiple Choice

StarrKnight Corporation's Statement of financial position and Income Statement as shown below:


StarrKnight Corporation's days in receivables for 2015 is (use average trade receivables) ______ .

• A)10.56 days
• B)12.36 days
• C)23.66 days
• D)17.10 days
• E)126.74 days

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Definitions:

Partially Integrated Contract

A written contract that represents some, but not all, of the terms agreed upon by the parties.

Ambiguous Term

A word or phrase that can be understood in more than one way, leading to uncertainty or varying interpretations.

Party to be Charged

The individual or entity against whom legal action is taken or who is required to fulfil an obligation.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and signed by the parties involved, to be enforceable.