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The manager of your receivables' department states that the firm's accounts receivable turnover is ...

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The manager of your receivables' department states that the firm's accounts receivable turnover is ...

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

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Corporate Finance

Edition: 5^th

Author: Booth

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More solutions for this book are available here

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ssi15 Author

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Good timing, thanks!

Gorgio_De

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Smart ... Thanks!

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