"If It Ain't Broke, Don't Fix It" Refers to Managing

question 68

True/False

"If it ain't broke, don't fix it" refers to managing by crisis.

Compute average inventory, accounts receivable turnover ratio, and total asset turnover from given data.

Calculate and interpret dividend yield, profit margin, total asset turnover, and return on total assets.

Understand the concept and significance of days' sales uncollected and days' sales in inventory within business operations.

Apply formulae to determine various financial ratios such as current ratio, acid-test ratio, and debt to equity ratio from balance sheet data.

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Definitions:

Market Forces

The natural factors in a free market that determine prices, distribution, and the availability of goods and services through the principles of supply and demand.

Basic Questions

Fundamental inquiries that address the core aspects of a subject or problem.

Economy

A system of production, distribution, and consumption of goods and services within a certain geographical area or country.