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When asked to caculate the cash operating cycle. For the WIP holding period the answer i got was 47 days. But when i check the answer key it shows 48 days , my working were exactly the same as the answer key . The answer is different probably because of the rounding off.
I want to know if we will be penalised if we dont get the exact 48 days. Or the marking scheme will allow a certain range of answers to be accepted ?
If it is in Sections A or B of the exam (the MCQ’s) then only one answer is correct.
If it is in Section C (the long-form questions) then the marks are for the workings and rounding does not lose marks.
Sir, in chapter 3 the formula for Inventory turnover, receivables turnover and payables turnover is given and the example mentions inventory days, receivables days and payable days.
After watching the lecture, the inventory turnover formula is inverted compared to inventory days formula (same for other formulas). Could you help me understand this?
I also noticed that the formula for inventory days, receivables days and payable days have been removed in the current notes.
Thanks
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