Q1033
80% of sales of Rs. 10,00,000 of a firm are on credit. It has a receivable turnover of 8. What is the average collection period (360 days a year) and average debtors of the firm?
A.
45 days and Rs. 1,00,000
AnswerB.
360 days and Rs. 1,00,000
C.
45 days and Rs. 8,00,000
D.
360 days and Rs. 1,25,000
Answer: Option A
Solution
Answer: Option A
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