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If the Turnover Period for Accounts Receivable Is 8

question 36

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If the turnover period for accounts receivable is 8.1 times per annum, what is the average number of days it takes to collect cash from accounts receivable?


Definitions:

New Production Method

Innovations or improvements in the process of producing goods or services.

Technological Advance

Refers to the development and application of new technologies and innovation that improve processes, products, or services.

Independent Advance

Progress or development achieved through actions or efforts that are free from external control or influence.

Profit Incentives

Motivations for individuals or companies to undertake activities that increase their profits.

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