The payable turnover is equal to 6, what is the average payment period?Select one:a.6 daysb.70 daysc.60 daysd.1/6 day
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Solution 1
The average payment period can be calculated by dividing the number of days in a year by the payable turnover. In this case, if we assume a year to be 360 days (which is common in financial calculations), the average payment period would be 360/6 = 60 days. So, the correct answer is c. 60 days. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Know
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