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PP&M Sells Earnings Forecasts for International Securities

Question 13

Multiple Choice

PP&M sells earnings forecasts for international securities.Its credit terms are 1/5, net 20.Based on experience, 66 percent of all customers take the discount.What is the average collection period?


A) 10.4 days
B) 10.1 days
C) 11.1 days
D) 10.6 days
E) 10.9 days

Correct Answer:

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