Average inventory equals $100,000, and cost of goods sold equals $216,000 . Days' inventory on hand equals
a. 168.98 days.
b. 170.0 days.
c. 157.9 days.
d. 193.1 days.
A
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Kenny and Jeff form a partnership. During the year, Kenny and Jeff withdraw $30,000 and $23,000, respectively. Which of the following will be included in the journal entry to record the withdrawals?
A) debit to Kenny, Withdrawals for $30,000 B) debit to Jeff, Withdrawals for $7000 C) credit to Kenny, Withdrawals for $30,000 D) credit to Jeff, Withdrawals for $23,000
Which of the following is an example of a hard skill?
A) Working well as part of a team B) Knowing how to prepare financial statements C) Listening actively D) ?Exhibiting proper business etiquette
Service supply chains as compared to product supply chains are said to be bidirectional. This means that in service supply chains
A) resources flow back and forth between customers and providers. B) products flow back upstream in the supply chain similar to reverse logistics. C) money flows in both directions in the supply chain. D) customers and service providers are often interchanged.
Which of the following statements is FALSE?
A) The lower the discount percentage offered, the greater the cost of forgoing the discount and using trade credit. B) A firm should choose to borrow using accounts payable only if trade credit is the cheapest source of funding. C) A firm should always pay on the latest day allowed. D) A firm should strive to keep its money working for it as long as possible without developing a bad relationship with its suppliers or engaging in unethical practices.