Excerpts from Shelton Corporation's Most Recent Balance Sheet Appear Below

question 81

Multiple Choice

Excerpts from Shelton Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,320 and the cost of goods sold was $890.
-The average collection period for Year 2 is closest to:

• A) 1.1 days
• B) 69.1 days
• C) 0.9 days
• D) 66.4 days

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Definitions:

Business Union

A type of labor union primarily focused on negotiating better wages, benefits, and working conditions for its members, often within a specific industry or sector.

Reform Union

A movement or initiative aimed at making changes or improvements within a labor union, focusing on aspects such as governance, transparency, and member engagement.

Arbitration

A method of resolving disagreements outside of court in which an impartial third party, known as the arbitrator, delivers a decision that is binding on the parties involved.

Uplift Union

An approach to unionism that focuses on the moral improvement and educational advancement of workers, beyond just economic concerns.