CornProducts Corp

question 108

Multiple Choice

CornProducts Corp. ended the year 2018 with an average collection period of 40 days. The firm's credit sales for 2011 were $9 million. What is the approximate year-end 2013 balance in accounts receivable for Corn Products?

• A)$225,000
• B)$986,300
• C)$4,444,400
• D)$360,000,000

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Definitions:

Dominate Industry

To hold a commanding or leading position in a particular market or sector.

Independently Owned

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Succession Plan

A strategy for identifying and developing future leaders within an organization, to ensure continuity in key positions.

Chain Restaurants

Restaurants that are part of a series or network, offering a similar dining experience across multiple locations.