Examlex
Consuelo and Gabriela enter into a contract for a sale of saxophones and other brass instruments.Consuelo delivers,but Gabriela does not pay.Consuelo can normally recover as damages
Inventory Period
The average time it takes for a company to turn its inventory into sales, often used to assess the efficiency of inventory management.
Accounts Receivable Period
The average number of days it takes for a company to collect payments from its customers after a sale has been made.
Accounts Payable Period
The average number of days it takes for a business to pay off its trade creditors.
Credit
Refers to the trust allowing one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately but promises either to repay or return those resources at a later date.
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