Which of the following is the most precise, enabling marketers to focus on the most promising sales prospects?
A. Advertising
B. Public relations
C. Sales promotion
D. Personal selling
E. Publicity
Answer: D
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Mondok Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$139,000 $140,000 Accounts receivable, net 222,000 230,000 Inventory 109,000 120,000 Prepaid expenses 68,000 70,000 Total current assets 538,000 560,000 Plant and equipment, net 857,000 800,000 Total assets$1,395,000 $1,360,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$186,000 $180,000 Accrued liabilities 34,000 30,000 Notes payable, short term 64,000 60,000 Total current liabilities 284,000 270,000 Bonds payable 130,000 130,000 Total liabilities 414,000 400,000 Stockholders' equity: Common stock, $2 par
value 100,000 100,000 Additional paid-in capital 90,000 90,000 Retained earnings 791,000 770,000 Total stockholders' equity 981,000 960,000 Total liabilities & stockholders' equity$1,395,000 $1,360,000 Income StatementFor the Year Ended December 31, Year 2Sales (all on account)$1,280,000 Cost of goods sold 840,000 Gross margin 440,000 Operating expenses 387,231 Net operating income 52,769 Interest expense 12,000 Net income before taxes 40,769 Income taxes (35%) 14,269 Net income$26,500 Required:a. What is the company's working capital at the end of Year 2?b. What is the company's current ratio at the end of Year 2?c. What is the company's acid-test (quick) ratio at the end of Year 2?d. What is the company's accounts receivable turnover for Year 2?e. What is the company's average collection period for Year 2?f. What is the company's inventory turnover for Year 2?g. What is the company's average sale period for Year 2?h. What is the company's operating cycle for Year 2?i. What is the company's total asset turnover for Year 2?j. What is the company's times interest earned ratio for Year 2?k. What is the company's debt-to-equity ratio at the end of Year 2?l. What is the company's equity multiplier at the end of Year 2? What will be an ideal response?
Which type of store carries a wide variety of product lines and has been squeezed in recent years between more focused and flexible specialty stores on the one hand and more efficient, lower-priced discounters on the other?
A) warehouse clubs B) department store C) factory outlet D) merchant wholesaler E) category specialist
The following lots of a particular commodity were available for sale during the year: Beginning inventory 10 units at $55 First purchase 25 units at $65 Second purchase 30 units at $68 Third purchase 15 units at $70 The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of the inventory at the end of the year according to the
lower of cost or market, using the first-in, first-out method, if the current replacement cost is $68 a unit? A) $1,200 B) $1,100 C) $1,360 D) $1,390
One may freely use works deemed to be in the:
A. public interest B. public domain C. public outcome D. public welfare