26. The average collection period is also: accounts receivable turnover days sal

Question

26. The average collection period is also:
accounts receivable turnover
days sales outstanding
aging schedule
the sum of the credit sales from the last six months


27. Measures for monitoring receivables may be compared to:
A key competitor’s values
Historical trends
Management targets
All of the above
None of the above


28. Credit terms of 2/10, prox net 30 mean that a cash discount of 2% can be taken if payment is made by _________________ or the full invoice must be paid by __________________ .
days after the invoice date, 30 days after the invoice date
days after the invoice date, the 30th day of this calendar month
the 10th day of the next calendar month, 30 days after the invoice date
the 10th day of the next calendar month, the 30th day of the next calendar month
days after the good are actually received, 30 days after the goods are actually received


29. The advantage of consignment to the retailer is
not ever having to pay for the goods
not having to pay for the goods until the 30th day of the following month
not having to pay for the goods unless they are sold
a much larger price mark-up over cost than on items typically sold by the retailer


30. A very important cost of paying an invoice late which is difficult to estimate accurately is:
interest charges assessed by the supplier
the cost of foregone interest revenue
lost supplier goodwill
the cost of foregone interest expense
none of the above

Explanation / Answer

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29. The advantage of consignment to the retailer is
not ever having to pay for the goods
not having to pay for the goods until the 30th day of the following month
not having to pay for the goods unless they are sold
a much larger price mark-up over cost than on items typically sold by the retailer

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