Year Average 
Credit Sales = $180,000 COGS = $135,000
How many days are in the accounts payable period?
Definitions:
Total Risk
The complete range of risk associated with an investment, including both systematic and unsystematic risk.
Risk Premium
The additional return an investor demands for taking on a higher risk compared to a risk-free asset, indicating the compensation for bearing extra risk.
Principle of Diversification
A risk management strategy that mixes a wide variety of investments within a portfolio to minimize risks.
Efficient Market
A financial market theory stating prices fully reflect all available information, making it impossible to consistently achieve higher returns.
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