A high inventory turnover ratio is good because it indicates that:
A. a firm can continue its daily operationswith a smallamount of inventory on hand.
B. it is easier for a firm to pay its short-term debts.
C. a firm's customers are paying for their purchases more quickly.
D. a firm produces a larger return to shareholders than investment by the stockholders.
Answer: A
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The budget director of Mandy's Kitchen Shop has prepared the following sales budget. The company had $50,000 of accounts receivable at January 1. The company normally collects 100 percent of its accounts receivable in the month following the sale.Required:(a) Complete the schedule of cash receipts by filling in the missing amounts. What are the total budgeted cash receipts for the first quarter.(b) Determine the amount of accounts receivable that Mandy's should report on the first quarter pro forma balance sheet.
What will be an ideal response?
When the owner invests equipment in a business,
A. assets increase and owner's equity decreases. B. liabilities decrease and owner's equity increases. C. assets and owner's equity increase. D. assets and revenue increase.
Bonds are sold at a premium if the:
A) issuing company has a better reputation than other companies in the same business. B) market rate of interest was less than the stated rate at the time of issue. C) market rate of interest was more than the stated rate at the time of issue. D) market rate of interest was same as the stated rate at the time of issue.
Which of the following is not protected activity of employees under Section 8 of the NLRA?
A. The right to strike. B. The right to vote in a union election without fear of coercion. C. The right to refuse to bargain with an employer over wages, hours, and working conditions. D. The right to engage in concerted activities for mutual aid and protection.