Question
XYZ Ltd has provided the following information from its financial statements for the year ended 30 June 2018. Sales (all on credit) $1,700,000 Gross profit
XYZ Ltd has provided the following information from its financial statements for the year ended 30 June 2018. Sales (all on credit) $1,700,000 Gross profit on sales 920,000 Net profit 190,000 Cost of sales 780,000 Inventory (average balance over year) 180,000 Accounts receivable (average balance over year) 300,000
The average settlement period for XYZ Ltd's accounts receivables (in days) for 2018 is:
A. 32 days
B. 84 days
C. 6 days
D. 64 days
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Cima P1 Management Accounting Study Text New 2019 Syllabus
Authors: Acorn Profession Tutors
1st Edition
B084ZZPF9N
