Question
Underground Funeral Services has annual sales of $875,600. The cost of goods sold is equal to 81 percent of sales. The firm has an average
Underground Funeral Services has annual sales of $875,600. The cost of goods sold is equal to 81 percent of sales. The firm has an average accounts receivable balance of $85,800 and an average accounts payable balance of $72,450. How many days on average does it take the firm to pay its suppliers?
Multiple Choice
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30.20 days
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39.95 days
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37.29 days
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34.18 days
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44.16 days
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The Handbook Of Traditional And Alternative Investment Vehicles Investment Characteristics And Strategies
Authors: Mark J. P. Anson, Frank J. Fabozzi, Frank J. Jones
1st Edition
0470609737, 978-0470609736
