Apple Company Had Terms of Net 60 Days for Customers

question 84

True/False

Apple Company had terms of net 60 days for customers.The number of days' sales in accounts receivable for Apple was 42 days.Apple is efficient in the collection of its receivables.

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Definitions:

Manufacturer

An individual or company that makes goods or products from raw materials by using various forms of labor, machinery, and equipment.

Safe Product

A product that has been designed and manufactured to minimize any risks of harm or injury to users.

UCC

Short for the Uniform Commercial Code, it is a comprehensive set of laws governing all commercial transactions in the United States.

Express and Implied Warranty

Guarantees that a seller makes about the condition, functionality, or performance of goods or services; express warranty being explicitly stated and implied warranty being presumed by law.