Your Firm Had Net Sales of $80,000 This Past Year

question 18

Multiple Choice

Your firm had net sales of $80,000 this past year and receivables of $20,000; and a cost of goods sold of $522,000. What were the days sales outstanding?

• A) 91 days
• B) 48 days
• C) 36 days
• D) 5 days
• E) 4 days

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Definitions:

Respiration

The biological process involving the exchange of gases between an organism and its environment, including inhaling oxygen and exhaling carbon dioxide.

Digestion

The complex process by which food is broken down by the body's digestive system into substances that can be absorbed and utilized for energy, growth, and cell repair.

Elimination

The process of removing something or someone from consideration, or the body's process of expelling waste.

Hepatitis

Inflammation of the liver, often caused by viral infections, toxins, medications, or autoimmune disease.