The accounts payable turnover ratio uses purchases on account in its computation. Although firms do not disclose their purchases, the analyst can calculate the purchase amount as follows:
a. Purchases = Cost of Goods Sold + Ending Inventory + Beginning Inventory
b. Purchases = Cost of Goods Sold + Ending Inventory - Beginning Inventory
c. Purchases = Cost of Goods Sold - Ending Inventory + Beginning Inventory
d. Purchases = Cost of Goods Sold - Ending Inventory - Beginning Inventory
e. Purchases = Cost of Goods Sold x Ending Inventory - Beginning Inventory
B
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The stage of team development in which the leader attempts to set up ground rules of behavior is called ______.
a. forming b. storming c. norming d. performing
Which of the following documents specifies the materials needed to produce a job?
a. Production schedule b. Bill of materials c. Raw materials records d. Receiving report
The document that lists the total cost for a single job is a
A) job-order cost sheet B) materials requisition form C) time ticket D) purchase order E) none of these
By delaying entry, late movers:
A. can learn from the actions of first movers without incurring the same costs. B. can avoid high entry barriers. C. secure the window of opportunity. D. have less information about market demand.