Using the Information Provided,what Is the Accounts Payable Cycle for the Firm

question 24

Multiple Choice

Using the information provided,what is the accounts payable cycle for the firm? Allied Industries, Inc.
Selected Income Statement Items, 2017
$\begin{array}{ll}\text { Cash Sales } & \$ 1,500,000 \\\text { Credit Sales } & \$ 7,500,000 \\\text { Total Sales } & \$ 9,000,000 \\\text { COGS } & \$ 6,000,000\end{array}$
Allied Industries, Inc.
Selected Balance Sheet Accounts
$\begin{array}{llll}&12/31/2017 &12/31/2016&\text { Change }\\\text { Accounts Receivable } & \$ 270,000 & \$ 240,000 & \$ 30,000 \\\text { Inventory } & \$ 125,000 & \$ 100,000 & \$ 25,000 \\\text { Accounts Payable } & \$ 110,000 & \$ 90,000 & \$ 20,000\end{array}$

• A)4.06 days
• B)4.87 days
• C)6.08 days
• D)24.33 days

Realize the need for information dissemination meetings for significant changes.

Understand the psychological and social needs fulfilled by meetings.

Recognize the importance of circulating a specific agenda beforehand.

Know the role of minutes and proper documentation in disseminating meeting information.

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Definitions:

Mucus

A thick, slippery substance produced by glands in the lining of the body's passageways, such as the respiratory, digestive, and reproductive tracts, serving as a protective lubricant.

Distal Airways

The segments of the respiratory system that are furthest from the mouth, including the smaller bronchioles and alveoli, crucial for gas exchange.

Central Airways

The major air passages leading from the trachea to the lungs, facilitating the movement of air in and out of the lungs.

Pleural Effusion

The accumulation of excess fluid between the layers of the pleura outside the lungs.