Mayer's Philosophy of Never Using Debt to Finance Operations or Expansion

question 37

Multiple Choice

Mayer's philosophy of never using debt to finance operations or expansion was born during the Great Depression and passed on to his sons when they joined the family business.Today the multi-million dollar organisation proudly follows Mayer's practice under the leadership of Mayer's great-grandsons and -daughters.This family's commitment is based on:

• A)family control and influence.
• B)identification of family members with the business.
• C)binding social ties.
• D)emotional attachment of family members.

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Definitions:

Average Collection Period

This metric calculates the average number of days it takes for a company to receive payments from its customers, indicating the efficiency of its credit and collection policies.

Financial Statements

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Income Statement

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Account Titles

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