The Following Balance Sheet Information Was Provided by Western Company

question 89

Multiple Choice

The following balance sheet information was provided by Western Company: Assuming Year 2 net credit sales totaled $126,000, what was the company's average days to collect receivables? (Use 365 days in a year. Do not round your intermediate calculations. Round your answer to 2 decimal places.)

• A)49.25 days
• B)46.35 days
• C)98.49 days
• D)52.14 days

Understand the importance of providing both financial and nonfinancial information in managerial accounting for internal decision-making.

Discern modern systems like total quality management and just-in-time manufacturing designed to enhance management quality and product/services offered.

Understand effective tone and style in business messages.

Identify appropriate media and channels for business communication.

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Definitions:

Stocks or Bonds

Financial instruments that represent equity ownership in a company (stocks) or a fixed income security issued by corporations or governments (bonds).

Flotation Cost

The costs incurred by a company in issuing new securities, including underwriting fees, legal fees, and registration fees.

Securities Issued

Financial instruments such as stocks, bonds, or options that have been offered for sale by a corporation or government entity.

Fund Project

The act of providing financial resources, typically in the form of money, or other values such as effort or time, to finance a project.