Businessevents include any change in the state of an enterprise.
Answer the following statement true (T) or false (F)
True
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Which of the following statements about the FASB Accounting Standards Codification is true?
A) It only exists as an electronic database; paper copies are not available. B) When the Codification was adopted in 2009, it caused major changes in the contents of U.S. GAAP. C) It is reviewed and periodically updated by the SEC. D) It is only one of a large number of authoritative pronouncements that have been issued over time, all of which comprise U.S GAAP.
A major advantage of a centralized buying organization is low prices due to high bargaining power and quantity discounts
Indicate whether the statement is true or false
All capital investment evaluation methods use the time value of money concept.
Answer the following statement true (T) or false (F)
Marshall Inc. recently hired your consulting firm to improve the company's performance. It has been highly profitable but has been experiencing cash shortages due to its high growth rate. As one part of your analysis, you want to determine the firm's cash conversion cycle. Using the following information and a 365-day year, what is the firm's present cash conversion cycle? Average inventory =$75,000 Annual sales =$600,000 Annual cost of goods sold =$360,000 Average accounts receivable =$160,000 Average accounts payable =$25,000
A. 120.6 days B. 126.9 days C. 133.6 days D. 140.6 days E. 148.0 days