hich statement concerning the average settlement period for accounts payable is correct? Select one: a.It is always best for the business to make creditors wait for their money for as long as possible. b.It is best to pay accounts payable as quickly as possible. c.A change in the accounts payable turnover period of 56 days to 65 days means that accounts payable are being paid faster. d.Accounts payable provide a free source of finance for a business.
hich statement concerning the average settlement period for accounts payable is correct? Select one: a.It is always best for the business to make creditors wait for their money for as long as possible. b.It is best to pay accounts payable as quickly as possible. c.A change in the accounts payable turnover period of 56 days to 65 days means that accounts payable are being paid faster. d.Accounts payable provide a free source of finance for a business.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which statement concerning the average settlement period for accounts payable is correct?
Select one:
a.It is always best for the business to make creditors wait for their money for as long as possible.
b.It is best to pay accounts payable as quickly as possible.
c.A change in the accounts payable turnover period of 56 days to 65 days means that accounts payable are being paid faster.
d.Accounts payable provide a free source of finance for a business.
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