A Vancouver Firm Has Sales of $1,640, Net Income of $135

question 306

Multiple Choice

A Vancouver firm has sales of $1,640, net income of $135, net fixed assets of $1,200, and current assets of $530. The firm has $280 in inventory. What is the common-size statement value of inventory?

• A) 15.01 %
• B) 15.68 %
• C) 16.18 %
• D) 30.42 %
• E) 52.83 %

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Definitions:

Total Reserves

The amount of funds that a bank or financial institution has in its vault or with the central bank, available to meet any withdrawal or payment demands.

Debit Cards

Payment cards that deduct money directly from a consumer's checking account to pay for a purchase.

PIN Number

A personal identification number that securely authenticates a user's identity, often used in bank transactions.

Credit Cards

Financial instruments issued by banks and financial institutions that allow cardholders to borrow funds up to a specified limit to purchase goods and services.