Use the Following Information to Answer the Following Question(s)

question 24

Multiple Choice

Use the following information to answer the following question(s) .
Key Ratios for ABC, Ltd.and Its Industry
ABC, Inc.Income Statement (in thousands) December 31, 2016
ABC Ltd Balance Sheet (in thousands) December 31, 2016

-In 2016, ABC's average collection period is [blank].

• A)30 days
• B)32.5 days
• C)25 days
• D)35 days

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Definitions:

Statute Of Frauds

A legal concept that requires certain types of contracts to be executed in writing and signed by the party to be charged, in order to be enforceable.

Statute Of Frauds

A legal concept that requires certain types of contracts to be executed in writing and signed by all parties to be legally enforceable.

Mercedes Automobile

A brand of luxury vehicles manufactured by the German company Mercedes-Benz.

World Tour

A series of travel stops across different countries or continents, often performed by artists, athletes, or public figures.