Based on the Following Data for the Current Year, What

question 142

Multiple Choice

Based on the following data for the current year, what is the number of days' sales in receivables
$\begin{array}{lr}\text { Sales on account during year } & \$ 584,000 \\\text { Cost of goods sold during year } & 300,000 \\\text { Accounts receivable, beginining of year } & 45,000 \\\text { Accounts receivable, end of year } & 35,000 \\\text { Inventory, beginning of year } & 90,000 \\\text { Inventory, end of year } & 110,000\end{array}$

• A) 7.3
• B) 2.5
• C) 14.6
• D) 25

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Definitions:

Copy Paper

Standard-sized, thin paper generally used for writing, printing, and photocopying in office and school environments.

Derived Demand

A demand for a commodity, service, or good that arises from the demand for another good or service, for example, the demand for steel being driven by the demand for automobiles.

Hockey Gear

Equipment and apparel used in playing hockey, including sticks, helmets, pads, and skates.

NHL

Stands for National Hockey League, a professional ice hockey league in North America, comprising teams from both the United States and Canada.