Orantes Company's Average Sale Period (Turnover in Days)for Year 2

question 9

Multiple Choice

Orantes Company's average sale period (turnover in days) for Year 2 was closest to which of the following? Do not round intermediate calculations.

• A) 18.9 days.
• B) 24.7 days.
• C) 27.1 days.
• D) 35.5 days.Days = 365/13.462 = 27.1 days.

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Definitions:

Financing Activities

Transactions that involve raising capital or funds for a company's operations, including debt, equity, and other financial instruments.

Financial Statements

Reports detailing a company's financial performance and position, including the balance sheet, income statement, and cash flow statement.

Accounting Information

Data related to the financial status and performance of an organization, which is used for decision-making by stakeholders.

Financial Soundness

The state of being stable and secure in financial terms, often assessed through indicators like solvency, liquidity, and profitability.