Indicate whether each of the following statements is true or false.________ a) The higher the accounts receivable turnover ratio, the longer is a company's cash collection period.________ b) The accounts receivable turnover ratio is measured as the amount of sales divided by accounts receivable.________ c) The average days to collect accounts receivable is measured as 365 divided by the accounts receivable turnover ratio.________ d) Longer collection periods decrease the costs of collecting from customers. ________ e) A higher average collection period is desirable.
What will be an ideal response?
a) F b) T c) T d) F e) F
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According to the BCG growth-market share matrix, ________ are strategic business units with products that have a small share of a slow-growth market
A) dogs B) exclamation points C) cash cows D) stars E) question marks
The Tobler Corporation has budgeted production for next year as follows: Quarter FirstSecondThirdFourthProduction in units10,00012,00016,00014,000?Four pounds of raw materials are required for each unit produced. Raw materials on hand at the start of the year total 4,000 pounds. The raw materials inventory at the end of each quarter should equal 10% of the next quarter's production needs. Budgeted purchases of raw materials in the third quarter would be:
A. 63,200 pounds B. 50,400 pounds C. 62,400 pounds D. 56,800 pounds
Why should you use an ANOVA instead of multiple independent-samples t-tests?
What will be an ideal response?
Mitchell uses a perpetual inventory system. Mitchell sells a computer from inventory for $1,198 on credit. Mitchell originally bought the computer from IBM for $790. What journal entry (entries) will Mitchell prepare to record the sale?
A. Debit Cash and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790. B. Debit Inventory for $790, debit Cost of Goods Sold for $408, and credit Accounts Receivable for $1,198. C. Debit Accounts Receivable for $1,198, credit Inventory for $790, and credit Gross Profit for $408. D. Debit Accounts Receivable and credit Sales Revenue for $1,198; debit Cost of Goods Sold and credit Inventory for $790.