The Following Information Was Extracted from the Financial Records of Goss

question 54

Multiple Choice

The following information was extracted from the financial records of Goss Ltd for the year ended 30 June 2014:
$$\begin{array} { l r } \text { Cash Sales } & \$ 30,000 \\\text { Credit Sales } & 180,000 \\\text { Accounts receivable } & 25,000 \\\text { Cost of Sales } & 130,000\end{array}$$
If there are 365 trading days per year,calculate for the managing director the number of days that accounts receivable are outstanding at 30 June 2014.

• A) 86 days.
• B) 51 days.
• C) 114 days.
• D) 43 days.

---

Definitions:

Promiscuous

Characterized by or involving indiscriminate mingling or association, especially having sexual relations with a number of partners on a casual basis.

Genital Stage

In Freudian psychosexual development, the final stage characterized by mature sexual interests and activities, typically beginning at puberty.

Puberty

The period during which adolescents reach sexual maturity and become capable of reproduction.

Children Enter

The phase when children begin a particular stage or environment, such as starting school or entering puberty.