Which Statement Concerning the Average Settlement Period for Accounts Payable

question 18

Multiple Choice

Which statement concerning the average settlement period for accounts payable is correct?

• A)It is always best for the business to make creditors wait for their money for as long as possible.
• B)It is best to pay accounts payable as quickly as possible.
• C)Accounts payable provide a free source of finance for a business.
• D)A change in the accounts payable turnover period of 56 days to 65 days means that accounts payable are being paid faster.

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Definitions:

Database Documenter

A tool or feature that generates a detailed report or documentation of the database schema, including tables, relationships, and other objects.

Table Relationships

The logical connections between tables in a database, defined by primary and foreign keys, to ensure data integrity.

Field Property Values

Specific settings or attributes assigned to fields in databases or software applications, dictating how data in those fields should be handled or displayed.

Class Module

In programming, a template for creating objects, providing initial values for state (member variables) and implementations of behavior (member functions or methods).