If It Takes 30 Days to Sell Inventory, 60 Days

question 80

True/False

If it takes 30 days to sell inventory, 60 days to collect for the sale, and creditors' terms are 10 days, the financing period is 100 days.

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Definitions:

Commits Fraud

The act of intentionally deceiving someone in order to gain an unauthorized benefit or harm another person.

Fraudulent Information

False information that is knowingly presented as true to deceive or mislead others, often for personal gain or to fulfill certain objectives.

Confidential Information

Sensitive information that is not public knowledge and is protected from being disclosed, often defined in legal agreements.

Third Party

An entity that is not directly involved in a transaction or legal contract but may be affected by it or have interests in its outcome.