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Basic Question 2 of 12
On May 15, your firm receives 20 cases of designer pens. On June 30, your firm pays $3,250 for the pens. On July 15, the pens are sold on credit for $10,500. On September 10, your firm collects the receivable in full. If each transaction occurs at the end of the business day, how many days are in the accounts receivable period?
B. 57 days
C. 61 days
D. 72 days
E. 118 days
A. 46 days
B. 57 days
C. 61 days
D. 72 days
E. 118 days
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Learning Outcome Statements
explain the cash conversion cycle and compare issuers' cash conversion cycles
CFA® 2026 Level I Curriculum, Volume 2, Module 4.