Final answer:
The most appropriate turn-around time for payment of an account is typically 30 days, although longer turn-around times may be agreed upon in specific cases.
Step-by-step explanation:
The most appropriate turn-around time for payment of an account depends on various factors such as industry norms, business relationships, and cash flow requirements. However, one common and widely used turn-around time is 30 days. This means that invoices are typically expected to be paid within 30 days of the invoice date.
Having a shorter turn-around time, such as 30 days, allows businesses to maintain a steady cash flow and manage their expenses effectively. It also demonstrates good financial management and helps build strong business relationships.
On the other hand, longer turn-around times, such as 60, 90, or 120 days, are occasionally agreed upon in specific cases where there may be contractual arrangements or industry practices that permit extended payment terms.