NO.PZ2023090505000004
问题如下：
An analyst is evaluating an issuer’s liquidity and calculates a negative cash conversion cycle for the issuer in the most recent fiscal year. This result is:
选项：
A.not feasible.
possible, because the issuer has sufficient cash and marketable securities on hand to support short-term needs.
possible, because the investment in inventory is returned quickly and the issuer takes advantage of vendor financing.
解释：
C is correct. If days of inventory on hand is low, the accounts receivable collection period is short, and the issuer takes advantage of its vendors’ financing, a negative cash conversion cycle is a possible result.
A is incorrect, because issuers may have a negative cash conversion cycle if days payable outstanding is larger than the sum of days of inventory on hand and days sales outstanding.
B is incorrect, because the amount of cash and marketable securities on hand does not affect the company’s cash conversion cycle.
对于c选项
什么是负的现金转换周期？
库存天数较低，代表的是啥？
应收账款回收期短，现金转换周期变短，为啥是负数？
对于a选项
应付账款与库存日数和销售日数之和是什么关系？为啥大于库存日数和销售日数之和就会出现负的现金转换周期？
