A Firm Has Annual Credit Sales of $2m, an Average

question 13

Multiple Choice

A firm has annual credit sales of $2m, an average debtor's balance of $400,000 and works 365 days a year. The average settlement period for accounts receivable is:

• A)73 days.
• B)15 days.
• C)150 days.
• D)54.7 days.

Explain the process and legal implications of check conversion and electronic processing of checks.

Understand various thread representation practices and their acceptability in technical drawings.

Identify and categorize thread classes based on their tightness or looseness.

Interpret standard abbreviations and acronyms related to thread and fastener specifications.

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Definitions:

State Excise Tax

Taxes imposed by a state on particular goods or activities, such as alcohol, cigarettes, and gasoline.

Federal Excise Tax

A tax imposed by the federal government on the sale of certain goods and services, such as gasoline, alcohol, and tobacco.

Efficiency Loss

The loss of economic efficiency that can occur when the balance between supply and demand is not achieved or when market conditions lead to a misallocation of resources.

Marginal Benefit

The additional satisfaction or utility gained by consuming or producing one more unit of a good or service.