Max's Tire Center Company

question 33

Multiple Choice

Max's Tire Center Company
Selected data from the financial statements of Max's Tire Center are provided below.

- Refer to the selected data provided for Max's Tire Center. What is Max's days-in-inventory ratio in 2012?

• A) The days-in-inventory ratio is 153.60 days in 2012.
• B) The days-in-inventory ratio is 167.29 days in 2012.
• C) The days-in-inventory ratio is 139.92 days in 2012.
• D) The days-in-inventory ratio is 173.81 days in 2012.

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Definitions:

Property Transfer

The act of changing ownership of real estate or personal property from one person or entity to another.

Fraud Or Duress

refers to unlawful pressure or deceit used to coerce someone into a contractual agreement, compromising the agreement's validity.

Bequest

A transfer of personal property through a will.

Legacy

A bequest; a testamentary gift of personal property. Sometimes incorrectly applied to a testamentary gift of real property.