If You Obtain a Customer's Four Digit NAICS Code, You

question 133

Multiple Choice

If you obtain a customer's four digit NAICS code, you should know that:

• A) this firm might be manufacturing quite different products than other firms with the same number.
• B) the firm may also have a five digit code.
• C) a number of other firms probably have the same code.
• D) the firm may also have a six digit code.
• E) All of the above are true.

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Definitions:

Accounts Receivable Turnover

A financial ratio indicating how many times a company collects its average accounts receivable balance in a given period.

Year 2

Designates the second fiscal or calendar year in a sequence of years, crucial for tracking progress, budgets, and planning in various contexts.

Average Collection Period

The average amount of time it takes for a business to receive payments owed by its customers for goods or services sold on credit.

Year 2

Refers to the second year of a project, company's fiscal year, or any specified time period.