Zhang Company reported Cost of goods sold of $835,000, beginning Inventory of $37,200 and ending Inventory of $46,300. The Inventory turnover ratio is:
A. 418 times.
B. 19 times.
C. 20 times.
D. 56 times.
E. 0.5 times.
Answer: C
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According to GAAP, interest cost incurred to finance construction of an asset must be capitalized in which of the following situations?
A) when the asset is inventory that is routinely manufactured in large quantities on a repetitive basis B) when an asset is used in other than the earning activities of the firm C) when an asset is ready for its intended use D) when an asset is being constructed for a firm's own use
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Indicate whether the statement is true or false
An asset with an original cost of $100,000 and a current book value of $20,000 is sold for $50,000 as
part of a capital budgeting project. The company has a tax rate of 30%. This transaction will have what impact on the project's initial outlay? A) reduce it by $15,000 B) reduce it by $50,000 C) reduce it by $6,000 D) reduce it by $20,000
Companies that ask customers about their service expectations raise the customers' levels of expectations.
Answer the following statement true (T) or false (F)