During the most recent fiscal year a firm earned revenues, Finance Basics

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During the most recent fiscal year a firm earned revenues

Question: During the most recent fiscal year, a firm earned revenues of $10,000,000 and net income of $2,000,000. Over this same period, depreciation expense was $500,000 and receivables increased by $200,000 and payables increased by $300,000. What was the firm's cash conversion efficiency ratio?

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Finance Basics: During the most recent fiscal year a firm earned revenues

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