Data from Alf Corporation's Most Recent Balance Sheet and Income

question 39

Multiple Choice

Data from Alf Corporation's most recent balance sheet and income statement appear below:
The average collection period for this year is closest to:

• A) 78.5 days
• B) 74.3 days
• C) 40.6 days
• D) 36.2 days

---

Definitions:

Without Substantial Change

This entails maintaining the primary essence or core of something while possibly making minimal adjustments that do not significantly alter its nature or function.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, resulting in harm or damage.

Misrepresentation

A false statement of fact by one party to another party, which induces that other party to enter into a contract.

Strict Liability in Tort

A legal doctrine that holds individuals or entities responsible for damages or harm, irrespective of fault or intent.