Which One of the Following Statements Is Correct If a Firm

question 28

Multiple Choice

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

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

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