Answer:
d. Account receivable days = 72 days
Explanation:
The average receivable days. This is the average length of time it takes a business to collect the amount due from its customers in respect of credit sales.
When a business sells on credit , customers are expected to settle their account within a given credit period. Account receivable days is computed to evaluate how well a business is managing its investment in the account receivables.
The shorter the better, as it means that custmers are paying on time, thereby preserving cash position for the business and reducing the risk bad debt.
A prolonged account receivable days means a poor credit control system which comes with the attendants risk bad debt and additional financing costs for the business.
To compute the account receivable days (debtors collection period), use this formula:
Account receivable days= (Average account receivable/Credit sales) × 360 days.
So we apply this to the question:
Account receivable days= ( 1,200,000/6,000,000) × 360 days
= 72 days
Answer: The answer is JOINT TENANCY
Explanation: What is joint tenancy?
This is a legal arrangement whereby two or more people jointly own a property, in this arrangement, all owners have equal rights and obligations to the property. When one of the owners die, that owner's stake in the property goes to the surviving owners without having to pass through the court, because of the right of survivorship.
So the type ownership between Sam and Bridget above is a Joint Tenancy.
Answer:
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