Days' Payable Measures the Relative Size of Accounts Payable

question 162

True/False

Days' payable measures the relative size of accounts payable.

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Definitions:

Extraordinary Items

Events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence, significantly impacting a company's financial position.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the IFRS Foundation and the International Accounting Standards Board to ensure global consistency and transparency in financial reporting.

U.S. GAAP

Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, profits, or losses.