The ratio between credit sales that are not paid and the sum of the credit sales. This illustrates how effective a credit policy is. The formula for the creditors' turnover ratio is credit purchase / average trade creditors.
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Definition of creditors' turnover: The ratio between credit sales that are not paid and the sum of the credit sales. This illustrates how effective a credit policy is.
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A creditor's turnover ratio is a reflection of how quickly a company pays its creditors. This is also known as a payable turnover ratio. Low turnover means it takes ...