A Company's Accounts Payable Total $360,960

question 35

Multiple Choice

A company's accounts payable total $360,960. If the company takes 60 days to pay its outstanding accounts, what is the value of the company's annual credit purchases?

• A) $2,195,840
• B) $2,165,700
• C) $6,016,000
• D) $21,958,400
• E) $21,657,600

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Definitions:

Economic Growth

The growth in the real market value of goods and services that an economy generates over a period.

Technology

The application of scientific knowledge for practical purposes, especially in industry - machinery, equipment, and software developed from such scientific knowledge.

Production Possibility Frontier

An illustration indicating the top production capabilities for a pair of items, given certain inputs like resources.

Productivity

A measure of the efficiency of production, often quantified as the ratio of outputs to inputs in the production process.