FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Conversion Cycle
Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.
Question

If the number of personal loan applications declined by 9% to 1,821,233. What had been the previous year's number of application?

 

Expert Solution
Check Mark
Step 1

Calculation Of Previous Year Application =

(Total Application Percentage - Declined Percentage) = Remaining Application 

 

Previous Year's Number Of Application = 2,001,355

 

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