Kinston Industries Has an Average Accounts Payable Balance of $220,000

question 46

Essay

Kinston Industries has an average accounts payable balance of $220,000.Its annual cost of goods sold is $5,475,000,and it receives terms of 2/10,net 30 from its suppliers.Kinston chooses to forgo this discount.Is Kinston managing its accounts payables well?

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Real Estate Agent

A licensed professional who represents buyers or sellers in real estate transactions.

Articles of Incorporation

The primary legal document used to establish a corporation, outlining basic information such as the corporation's name, purpose, and structure.

Letters Patent

A method of incorporating used in some jurisdictions in Canada whereby the government grants recognition to the company as a separate legal entity.

Nova Scotia

A province in Canada known for its maritime heritage and coastal beauty.