The Number of Days' Sales in Receivables Is One Means

question 196

True/False

The number of days' sales in receivables is one means of expressing the relationship between average daily sales and accounts receivable.

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Definitions:

Use

The act of employing something for a particular purpose.

Mortgages

Loans used to purchase a property, where the property itself serves as security against the loan.

Conditional Sale Agreement

A contract for the sale of goods where the purchase price is paid in installments and the ownership (title) of the item does not pass to the buyer until certain conditions, often the full payment, are met.

Provincial Legislation

Laws and regulations enacted by the legislative bodies of provinces or territories within a country.