Working Capital Management Question:
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What is Norms?

Answer:

Norms : The committee suggested 15 industries excluding engineering industries. These norms were suggested in following forms:

a. For Raw materials: Consumption in months
b. For Work in Progress: Cost of production in months
c. For Finished Goods: Cost of Sales in months
d. For Receivables: Sales in months

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Do you know what are the sources used for financing temporary requirement of working capital?What are Methods of Borrowings?