The asset turnover ratio is computed as:
a. net operating income divided by average operating assets.
b. average operating assets divided by sales.
c. sales divided by average operating assets.
d. net operating income divided by sales.
c
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An overstatement of beginning inventory results in
a. no effect on the period's gross margin. b. an overstatement of gross margin. c. an understatement of gross margin. d. a need to adjust purchases.
The expected rate of return of an investment _____.
A. equals one of the possible rates of return for that investment B. equals the required rate of return for the investment C. is the mean value of the probability distribution of possible outcomes D. is the median value of the probability distribution of possible outcomes E. is the mode value of the probability distribution of possible outcomes
The costly Motorola global satellite telecom project known as Iridium provides a useful illustration of the ________. Even though problems with the project existed during the lengthy development process, Motorola refused to pull the plug. Only after investing 5 billion USD and years of effort was the project abandoned.
A. lack of an exit champion B. overdependence on the product champion C. lack of a product champion D. overdependence on the exit champion
Which of the following statements about tax strategies is false?
A. Tax planners should consider the tax consequences of a strategy to all parties. B. Tax planners should prefer a simple strategy over a complex strategy. C. Tax planners should prefer a flexible strategy over an inflexible strategy. D. None of the above is false.