Unanticipated withdrawals by liability holders are a major part of liquidity risk.

Step 1 of the performance management process is monitoring and evaluating performance.

a. true b. false

If a firm has $400,000 in credit sales and $50,000 in average account receivable, average days

collection is approximately A) 5.563. B) 292. C) 29.2. D) 45.63.