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Modern Sound Has Sales of $811,000 and Average Accounts Payable

question 89

Multiple Choice

Modern Sound has sales of $811,000 and average accounts payable of $87,400.The cost of goods sold is equivalent to 72 percent of sales.How long does it take the firm to pay its suppliers?

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Definitions:

Grapevines

In an organizational context, grapevines refer to the informal channels of communication where information, rumors, and gossip spread among employees outside official channels.

Resale

The act of selling a product or good that one has purchased, to another buyer.

Rebuttal

A counterargument or contradiction against a previous argument, often used in debates or legal proceedings.

Revise

The process of reviewing and altering text or plans to improve clarity, quality, or efficiency.

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