Which of the following statements about external competitiveness is true?
A. External competitiveness refers to pay relationships among employees of an organization.
B. External competitiveness refers to the budget allocation for a department relative to other departments in an organization.
C. External competitiveness refers to the competitiveness between employees of an organization.
D. External competitiveness refers to an organization's pay relative to other organizations.
E. External competitiveness refers to the total compensation paid by an employer to an employee.
Answer: D
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Dahn Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$227,000 $150,000 Accounts receivable, net 134,000 130,000 Inventory 150,000 130,000 Prepaid expenses 83,000 80,000 Total current assets 594,000 490,000 Plant & equipment, net 769,000 840,000 Total assets$1,363,000 $1,330,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$200,000 $180,000 Accrued liabilities 63,000 70,000 Notes payable, short term 71,000 60,000 Total current liabilities 334,000 310,000 Bonds payable 290,000 290,000 Total liabilities 624,000 600,000 Stockholders' equity: Common stock, $5 par
value 400,000 400,000 Additional paid-in capital 50,000 50,000 Retained earnings 289,000 280,000 Total stockholders' equity 739,000 730,000 Total liabilities & stockholders' equity$1,363,000 $1,330,000 Income StatementFor the Year Ended December 31, Year 2Sales (all on account)$1,370,000 Cost of goods sold 850,000 Gross margin 520,000 Operating expenses 482,692 Net operating income 37,308 Interest expense 21,000 Net income before taxes 16,308 Income taxes (35%) 5,708 Net income$10,600 Dividends on common stock during Year 2 totaled $1,600. The market price of common stock at the end of Year 2 was $2.37 per share. The company's accounts receivable turnover for Year 2 is closest to: A. 10.22 B. 10.38 C. 0.97 D. 1.03