Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: Year 2Year 1Cash$74,000 $130,000 Accounts receivable, net$255,000 $240,000 Inventory$173,000 $180,000 Total current assets$564,000 $610,000 Total assets$1,350,000 $1,330,000 Accounts payable$170,000 $160,000 Total liabilities$633,000 $620,000 Total stockholders' equity$717,000 $710,000 Sales (all on account)$1,290,000 Cost of goods sold$700,000 The company's total asset turnover for Year 2 is closest to:
A. 1.04
B. 0.96
C. 0.19
D. 5.29
Answer: B
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Worldwide Logistics provides the following information:
What is the company's residual income?
A) $200,000
B) $450,000
C) $1,400,000
D) $1,150,000
A board of directors is debating if a proposed new program falls within the organization’s mission. The board is applying which type of duty?
A. care B. loyalty C. obedience D. investment
We are always communicating, whether we intend to or not
Indicate whether the statement is true or false.
Elsem Foods is a manufacturer of food and beverages. It manufactures several varieties of foods like potato chips, cupcakes, candies, crackers, fruit juices, and carbonated drinks. It introduced a new line of baked potato chips in different flavors
It receives its largest profit from its newly introduced line of hundred percent fruit juices that are available in different flavors, such as orange, apple, litchi, cranberry, and so on. Which of the following is a product item of Elsem Foods? a. Baked potato chips b. Cupcakes c. Hundred percent orange juice d. Beverages