If Accounts Receivable increases on a comparative balance sheet, this means:
A) collections were more than sales.
B) credit sales are decreasing.
C) credit sales are increasing more than collections.
D) None of these answers is correct.
Answer: C
Business
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A firm purchased raw materials on account and paid for them within 30 days. The raw materials were used in manufacturing a finished good sold on account 100 days after the raw materials were purchased
The customer paid for the finished good 60 days later. The firm's cash conversion cycle is ________ days. A) 10 B) 70 C) 130 D) 190
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What are the four financial questions that help focus on investing goals?
What will be an ideal response?
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