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ssi15 ssi15
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2 months ago
The manager of your receivables' department states that the firm's accounts receivable turnover is 25. Which of the following statements is a TRUE interpretation of this value?

▸ It takes about 2 days, on average, for customers to pay for their account.

▸ It takes about 25 days, on average, for customers to pay for their account.

▸ It takes about 15 days, on average, for customers to pay for their account: 365/25 = 14.6.

▸ None of the above
Textbook 
Corporate Finance

Corporate Finance


Edition: 5th
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micp3537micp3537
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