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111 a company with an accounts receivable turnover of four means that the company co 4297360

 

111) A company with an accounts receivable turnover of four means that the company collects its receivables approximately every ________ days.

A)  30

B)  60

C)  90

D) 120

112) If accounts receivable turnover is 10.4, this means that from the date of:

A) purchase to the date of payment is approximately 35 days.

B) sale to the date of receipt of payment is approximately 35 days.

C) discount to the date of receipt of payment is approximately 35 days.

D) invoice to the date of payment is approximately 35 days.

113) Mirabeau Company has a beginning Accounts Receivable balance of $65,000 and an ending Accounts Receivable balance of $60,000. Sales are $250,000. Mirabeau's accounts receivable turnover rate is:

A) 3.846.

B) 4.167.

C) 4.000.

D) 2.000.

114) With a beginning Accounts Receivable balance of $80,000; an ending Accounts Receivable balance of $120,000; and Sales of $900,000, the accounts receivable turnover is:

A)  9.00.

B)  8.89.

C) 22.22.

D) 13.33.

115) Inventory turnover measures the relationship between:

A) merchandise inventory and current liabilities.

B) total assets and merchandise inventory.

C) cost of goods sold and merchandise inventory.

D) cost of goods sold and total liabilities.

116) Excell Industries has a cost of goods sold of $1,900,000. The beginning and ending merchandise inventories are $133,000 and $125,000, respectively. Excell Industries inventory turnover ratio is:

A) 65.5 times.

B) 33.8 times.

C) 14.7 times.

D) 29.4 times.

117) Inventory turnover would most likely be highest for which of the following?

A) Home builder

B) Grocery store

C) Car dealership

D) Heavy equipment dealer

118) Which of the following ratios measures the earnings of a company on each dollar of assets invested?

A) Return on assets

B) Return on sales

C) Return on equity

D) Current ratio

119) The ratio that measures the efficiency of all of a company's assets used is the:

A) accounts receivable turnover ratio.

B) total asset turnover ratio.

C) inventory turnover ratio.

D) fixed asset turnover ratio.

120) The formula “net income divided by average stockholders' equity” yields:

A) return on equity.

B) return on assets.

C) earnings per share.

D) return on sales.

 

 

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