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Trent uses the formula: (trade receivables at year end/revenue for the year) x 365 to calculate how long on average (in days) its customers take to pay.Which of the following would NOT affect the correctness of the above calculation of the average number of days a customer takes to pay?

A. Trent experiences considerable seasonal trading
B. Trent makes a number of cash sales through retail outlets
C. Reported revenue does not include a 15% sales tax whereas the receivables do include the tax
D. Trent factors with recourse the receivable of its largest customer

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Trent uses the formula: (trade receivables at year end/revenue for the year) x 365 to calculate how long on average (in days) its customers take to pay.Which of the following would NOT affect the correctness of the above calculation of the average number of days a customer takes to pay?

A. Trent experiences considerable seasonal trading B. Trent makes a number of cash sales through retail outlets C. Reported revenue does not include a 15% sales tax whereas the receivables do include the tax D. Trent factors with recourse the receivable of its largest customer

Magenta Ltd has a current ratio of 1.5, a quick ratio of 0.4 and a positive cash balance. If it purchases inventory on credit, what is the effect on these ratios?

The process for developing an International Financial Reporting Standard involves a number of stages. Following receipt and review of comments on a Discussion Paper, what will be the next step undertaken by the IASB?

Which of the following is an example of an intangible asset of the subsidiary which may be recognised separately from goodwill when preparing consolidated financial statements?

What is the current liability for the leased plant in Flash Co's statement of financial position as at 30 September 20X5?

A. Trent experiences considerable seasonal trading
B. Trent makes a number of cash sales through retail outlets
C. Reported revenue does not include a 15% sales tax whereas the receivables do include the tax
D. Trent factors with recourse the receivable of its largest customer