LoDo, IncHas Sales of $642,000 and Average Accounts Payable of $36,400

question 36

Multiple Choice

LoDo, Inc.has sales of $642,000 and average accounts payable of $36,400.The cost of goods sold is equivalent to 65% of sales.How long does it take LoDo to pay its suppliers?

• A)11.46 days
• B)13.45 days
• C)20.69 days
• D)26.18 days
• E)31.85 days

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Definitions:

Effective Communication

The ability to convey information to others clearly and unambiguously, ensuring that the intended message is understood.

Leadership Skills

The abilities and qualities that enable an individual to influence, motivate, and enable others to contribute toward organizational success.

Personal Relationships

Connections between individuals based on emotional bonds, kinship, or social commitments.

Critical Thought

The intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and evaluating information to reach a conclusion.