Inventory fraud often involves overstating inventory and/or understating cost of goods sold. The result is a decrease in the:
a. gross profit ratio.
b. inventory turnover ratio.
c. number of days sales in inventory.
d. accounts receivable turnover ratio.
b
FEEDBACK: a. Incorrect. Gross profit ratio will increase.
b. Correct.
c. Incorrect. Number of days sales in inventory will increase.
d. Incorrect.
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The state of Ohio has passed a law requiring that every automobile be inspected at least once a year for pollution control. Anson Enterprises is considering entering into this type of business. After extensive Mark Anson has developed the following set of projected annual data on which to make his decision: Direct service labor $363,000.00 Variable service overhead costs 270,000.00 Fixed service
overhead costs 280,000.00 Marketing expenses 120,000.00 General and administrative expenses 170,000.00 Minimum profit 90,000.00 Cost of assets employed 500,000.00 Anson believes that his company will inspect 100,000 automobiles per year. The company earns an average of 18.75 percent return on its assets. The price to be charged for inspecting each automobile using the time and materials pricing method would be calculated as A) ($913,000.00 ÷ 100,000 ) + {($913,000.00 ÷ 100,000 ) x [($90,000 + $290,000 ) ÷ $913,000.00]}. B) ($1,203,000.00 ÷ 100,000 ) + [($1,203,000.00 ÷ 100,000 ) x ($90,000 ÷ $1,203,000.00)]. C) ($1,203,000.00 ÷ 100,000 ) + [($500,000 ÷ 100,000 ) x 0.1875]. D) none of these options.
If you use the same résumé when applying to more than one employer, you should use the same cover letter as well
Indicate whether the statement is true or false
What is the recommended format for an investor presentation?
a. The team, the customer, the opportunity, the solution, competitive positioning, business model, financial projections, go-to-market strategy, milestones b. Customer, opportunity, solution, business model, financials, go-to-market strategy c. Opportunity, business model, financials, milestones d. None of the above
If an employee steals money from an employer and has theft charges brought by the state, the employer must pay for the cost of prosecution
a. True b. False Indicate whether the statement is true or false