A Positive Statement Is

question 190

Multiple Choice

A positive statement is

• A)about what ought to be.
• B)about what is.
• C)always true.
• D)capable of evaluation as true or false by observation and measurement.
• E)B and D.

---

Definitions:

Asset Turnover Ratio

A financial metric that measures the efficiency of a company in generating sales revenue from its assets.

Financial Statements

Consolidated documents showing the financial health of an entity, including balance sheets, income statements, and cash flow statements.

Common Shares

Equity securities that represent ownership in a corporation, with voting rights and the potential for dividends.

FIFO

Stands for "First In, First Out," an accounting method for valuing inventory and determining cost of goods sold, where the oldest inventory is sold first.