It is the medium of exchange. It serves as the mediator instrument used to encourage the deal, buy or exchange of products between parties. For an instrument to work as a medium of trade, it must speak to a standard of significant worth acknowledged by all gatherings. In present-day economies, the medium of trade is money.
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<span>During the selling era, the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.</span>
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Answer:
Receivables turnover = 11.50 times
Days' sales in receivables = 31.74 days
Average collection period = 31.74 days
Explanation:
<u>Receivables Turnover Ratio</u>
Receivables turnover = Credit Sales / Receivables
= $3,804,200 / $330,800
= 11.50 times
Receivables turnover ratio measures how many times a company's receivables are converted to cash in a period. A high receivables turnover ratio can indicate that a company’s collection of accounts receivable is efficient and that the company has a high proportion of quality customers that pay their debts quickly.
<u>Days' sales in Receivables/ Average Collection Period</u>
Days' sales in receivables = 365 days / Receivables turnover
= 365 / 11.50
= 31.74 days
On average, credit customers took 31.74 days to pay off their accounts.
The days' sales in receivable ratio which is also known as the average collection period tells you the number of days it took on average to collect the company's accounts receivable during the past year.
Answer:
D. Time-management.
Explanation:
Time management is the process of planning and exercising conscious control of time spent on specific activities, especially to increase effectiveness, efficiency, and productivity.
Answer:
<em><u>The correct answer is: </u></em>Markets evolve toward greater heterogeneity over time.
Explanation:
The history of cell phones shows a marketing trend that markets evolve towards greater heterogeneity over time.
This occurs in relation to market segmentation, that is, organizations identify groups of consumers with similar tastes and develop all their marketing actions to reach a certain demand according to their needs, tastes and preferences. Market segmentation creates a heterogeneous market, with differentiated products in terms of functionality, design, price, benefits, etc., so that existing demands are met.
