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Hi,
I may be reading to much in to this but the ratios have changed round.
On page 14 Payable turnover is Credit purchases / Average Payable but on the lecture and on page 15 Payable days is Average payables / credit purchasesUpon writing this they may not be the same thing ?
but it they are what way should I learn ?
thanks for your help.Payables turnover and payables days do not mean the same thing, and the workings are as in the notes.
You could be asked for either of them in the exam.
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