单选题

Which of the following would most likely indicate deterioration of a firm's working capital management?(     )

【正确答案】 C
【答案解析】

An increase in days of receivables outstanding, other things equal, will lengthen both the operating and cash conversion cycles, indicating poorer working capital management. An increase in days of payables outstanding, other things equal, would decrease the cash conversion cycle. An increase in (total) asset turnover would result from improved working capital management, since a given level of sales could then be supported with less total assets.