Guttery Corporation Has Provided the Following Financial Data from Its

question 203

Multiple Choice

Guttery Corporation has provided the following financial data from its balance sheet: Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000. The company's operating cycle for Year 2 is closest to:

• A)71.2 days
• B)93.5 days
• C)18.6 days
• D)41.0 days

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Definitions:

Survivor Benefits

Financial benefits that are paid to the dependents or beneficiaries of a deceased individual, often as part of a pension or insurance plan.

Employer Contributions

Monetary amounts contributed by employers towards employee benefits like pension plans, health insurance, and other welfare schemes.

Employment Insurance

A government program designed to provide financial assistance to individuals who are unemployed through no fault of their own.

Workers' Compensation Insurance

Insurance that provides medical benefits and wage replacement to employees injured in the course of employment.