Examlex
Explain how substantive testing is used for prepayments,investments and intercompany balances.
Total Assets
The sum of all resources owned by an entity, measured in monetary terms, and represented on the balance sheet.
Accounts Receivable Turnover
A financial ratio indicating how quickly a company collects cash from credit sales by measuring the number of times receivables are collected over a period.
Net Sales
Total revenue from sales minus returns, allowances, and discounts.
Average Collection Period
A financial metric used to evaluate the average number of days a company takes to collect payments from its credit sales.
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