Question: 3. An analyst (you) is interested in assessing both the efficiency and liquidity of Sperion PLC. The analyst has collected the following data for Sperion:

3. An analyst (you) is interested in assessing both the efficiency and liquidity of Sperion PLC. The analyst has collected the following data for Sperion:

FY1 FY2 FY3

Receivables turns 9.0 9.5 10.0

Inventory turns 18.0 16.0 14.0

Payable turns 14.0 16.0 18.0

Based on this data, what is the analyst most likely to conclude

1. receivable management has improved

2. inventory management has improved

3. payable management has improved

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