A Company Had Net Sales of $31,500 and Ending Accounts

question 13

Multiple Choice

A company had net sales of $31,500 and ending accounts receivable of $2,700 for the current period. Its days' sales uncollected equals:

• A) 11.7 days.
• B) 23.3 days.
• C) 31.3 days.
• D) 42.5 days.
• E) 46.6 days.

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Definitions:

Tariff

A tax imposed on imported goods and services, which can affect trade balances, prices, and even the economy as a whole.

Trade Deficit

A scenario in which a nation imports more goods and services than it exports, leading to a negative trade balance.

Oil

A fossil fuel that is a primary source of energy for heating, transportation, and the production of many goods, playing a critical role in the global economy.

Trade Deficit

A situation in which a country's imports of goods and services exceed its exports, indicating that it is buying more from other countries than it is selling to them.