Kantorovich Company Normally Takes 30 Days to Pay for Its

question 17

Multiple Choice

Kantorovich Company normally takes 30 days to pay for its average daily credit purchases of $2,000. It has average daily sales of $3,000, and collects accounts in 25 days. What is its net credit position?

• A) $15,000
• B) $1,000
• C) ($1,000)
• D) ($15,000)

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Definitions:

World Economic System

Refers to the global network of economic activities, including trade, finance, and production, that interconnects the world's economies.

Second World War

A global conflict that lasted from 1939 to 1945, involving most of the world's nations, marked by significant battles, genocide, and the eventual defeat of Axis powers.

Colonization

The act of establishing control over indigenous people of an area or country, often involving exploitation or displacement of those people.

Colonizing Nations

Countries that establish and maintain colonies in other lands, typically to exploit resources and spread their influence.