Assume the Following Data: Sales = 3,200; Cost of Goods

question 6

Multiple Choice

Assume the following data: Sales = 3,200; Cost of goods sold = 1,600; Receivables = 200.Calculate the accounts receivable period.

• A)24.3
• B)22.8
• C)137
• D)45.6

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Definitions:

Business Plan

A detailed document outlining the strategy, objectives, financial projections, and operational guidelines for a new or existing business.

Financial Projections

Estimates of future revenue, expenses, and profitability over a specific period, often used in business planning.

Position Papers

Documents that present an organization's stance on a particular issue, often including arguments and evidence to support that position.

Compliance Papers

Documents that demonstrate adherence to laws, regulations, or standards.