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mantparn mantparn
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7 years ago
A firm has arranged for a lockbox system to reduce collection time of accounts receivable. Currently the firm has an average collection period of 43 days, an average age of inventory of 50 days, and an average payment period of 10 days. The lockbox system will reduce the average collection period by 3 days by reducing processing, mail, and clearing float. The firm's cash conversion cycle ________.
A) increases by 3 days
B) decreases by 3 days
C) increases by 6 days
D) decreases by 6 days
Textbook 
Principles of Managerial Finance

Principles of Managerial Finance


Edition: 14th
Authors:
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UlainUlain
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7 years ago
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mantparn Author
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#2
7 years ago
Whoa I needed this Smiling Face with Open Mouth
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