Cannon3423 Cannon3423

20-07-2021
Business

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If a firm has a cash cycle of 30 days and an operating cycle of 64 days, what is its average payment period

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Parrain Parrain

21-07-2021

Answer: 34 days

Explanation:

The average payment period is a measure that is used to show the time the firm takes on average to pay its creditors.

The formula is:

Cash cycle = Operating cycle - Average payment period

30 = 64 - APP

APP + 30 = 64

APP = 64 - 30

APP = 34 days

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