Selected Information from the Accounting Records of Carbine Manufacturing Follows

question 29

Multiple Choice

Selected information from the accounting records of Carbine Manufacturing follows:

What is the number of days' sales in average inventories for the year?

• A)132
• B)109
• C)101
• D)66

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Definitions:

Resulting Corporation

A corporation that emerges from the combination or merger of two or more separate entities.

Surviving Corporation

is a corporation that remains intact after a merger or acquisition, absorbing the assets and liabilities of the other entity involved.

Surviving Entity

The corporation or entity that continues to exist after a merger, acquisition, or consolidation, absorbing the assets and liabilities of the other entity.

Debts

Money owed by one party, the debtor, to another, the creditor, usually arising from a transaction of goods, services, or loans.