Which One of the Following Statements Is Correct If a Firm

question 73

Multiple Choice

Which one of the following statements is correct if a firm has a receivables turnover measure of 10?

• A)It takes a firm 36.5 days to pay its creditors.
• B)It takes a firm 36.5 days to sell its inventory and collect the payment from the sale.
• C)It takes a firm 10 days to collect payment from its customers.
• D)The firm has ten times more in accounts receivable than it does in cash.
• E)The firm has an average collection period of 36.5 days.

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