Use the Following Information for Questions Melrose Enterprise's Credit Terms Are Net 30 Days

question 42

Multiple Choice

Use the following information for questions: $\begin{array}{l}\begin{array}{lrr}&2011&2010\\\text { Current Assets }\\\text { Cash } & \$ 25,000 & \$ 26,250 \\\text { Accounts Receivable } & 247,500 & 299,000 \\\text { Inventory } & 1,950,000 & 1,725,000 \\\text { Prepaid expenses } & 4,000 & 4,000\\\text { Total Current Assets } & \$ 2,226,500&\$ 2,054,250\\\\\text { Current Liabilities } & \$ 1,400,000 & \$ 1,225,000 \\\text { Net Credit Sales } & \$ 2,400,000 & \$ 2,255,000\end{array}\end{array}$ Melrose Enterprise's credit terms are net 30 days.
-Melrose Enterprise Ltd's 2011 current ratio is:

• A)1.59:1
• B)1.39:1
• C)1.00:1
• D)0.19:1

Understand various organizational development techniques used to enhance performance.

Gain insights into the utilization of assessment centers as a selection tool.

Familiarize with the different types of employment tests and their applications.

Understand the concept of average total cost and its significance in the short run and long run.

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Definitions:

Algebraic Expression

A mathematical phrase that can contain ordinary numbers, variables, and operators, but does not have an equals sign.

Difference

The result of subtracting one number from another.

Algebraic Expression

An expression built up from integer constants, variables, and the algebraic operations (such as addition, subtraction, multiplication, and division).

Algebraic Expression

A mathematical phrase that can contain ordinary numbers, variables, and operation symbols but does not have an equal sign.