The number of times a firm's entire inventory is sold and replaced is referred to as
A. days of supply.
B. inventory turns.
C. inventory supply.
D. stockout.
E. days of stock.
Answer: B
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The balance sheet is linked to the retained earnings statement by the ending retained earnings balance
a. True b. False Indicate whether the statement is true or false
In January 2014, Western Co purchased a patent for $750,000 that had an estimated remaining economic life of ten years. On January 2, 2017, the company incurred $140,000 in legal fees to successfully defend the validity of the patent. In January 2019, the company incurred $88,000 in legal fees in a new infringement lawsuit. In this situation, the lawsuit was lost, and the patent was determined to
be worthless as a result. What is the expense to be recognized in 2019 by Western with regard to the patent? A) $750,000 B) $150,000 C) $475,000 D) $563,000
hat are the arguments for positioning Carvel as premium ice cream in the Chinese market?
What will be an ideal response?
E. I. James is a writer with a best selling novel. He wishes to create a corporation called "James, Inc". He will be the only shareholder. Can James incorporate his business of writing?
a. Yes, this would be the incorporation of a sole proprietorship. b. No, the law requires at least two people to be shareholders of a corporation. c. No, the law does not permit a person to, in effect, incorporate himself. d. Only if he forms an S Corporation.