The Financial Records of Del Ltd Reveal the Following at 30

question 26

Multiple Choice

The financial records of Del Ltd reveal the following at 30 June 2019: What was the number of days' sales in receivables?

• A) 60.8 days
• B) 90 days
• C) 120 days
• D) None of the above

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Definitions:

Long Term Assets

Assets that are expected to provide economic benefits to a company over a period longer than one year, like buildings and machinery.

Condensed Balance Sheets

Simplified financial statements presenting only the most essential information about a company's financial position.

Fixed Assets

Long-term tangible assets used in the operation of a business that are not likely to be converted to cash within one year.

Capital Expenditures

Financial resources dedicated by a corporation towards the acquisition, betterment, and maintenance of real assets, like real estate, industrial plants, or machinery.