[goblue75]

Wiley 2010, Module 41, Question 49:

Which of the following describes the appropriate formula for days’ sales outstanding?

a) Average receivables / Sales per day

b) Receivables balance / Sales per day

The answer per the book is B, but the module (page 170) would seem to indicate A. Internet research leads me to conclude that either answer is acceptable. Is this just an error on Wiley’s part, or am I missing something here?

> AUD - 84
> FAR - 75
> BEC - 76
> REG - 78

[Herbieherb]

Funny you asked that. I got that wrong when doing practice questions yesterday…that whole chapter is confusing.

NEW YORK- DONE

[Anonymous]

I thought the same thing. My original answer was “a”—have no idea why they said “b” was correct.

[Author]

Replies