To calculate number of days, do we not take avg accounts payable in the numerator?please clarify thanks
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Receivable turnover = Credit sales / avg account receivables..
No. of days of a/c receivables = 365 / receivable turnover..
Can you please share their solution part..
By this sense my ans should be correct right, are you sure the formulas you have given are the same as given by cfa institute?
Yes..
If you are a Sanjay sir’s student, then sir has always told that many authors and many books have given many different formulas.. So, as per me, the most credible source for exam is CFA institute’s material and after that Sanjay’s sir books which also align with CFA institutes material..
So, for me these 2 sources are more than enough to prepare..
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