The Following Information Is Available for Park Company at December

question 122

Multiple Choice

The following information is available for Park Company at December 31, 2010: beginning inventory $80,000; ending inventory $120,000; cost of goods sold $900,000; and sales $1,200,000. Park's inventory turnover in 2010 is

• A) 12 times.
• B) 11.3 times.
• C) 9 times.
• D) 7.5 times.

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Definitions:

Confirmation Bias

Confirmation bias is the tendency to search for, interpret, and recall information in a way that confirms one’s preexisting beliefs or hypotheses.

Transference

In psychotherapy, the process by which patients project feelings about important people in their lives onto the therapist.

Systematic Desensitization

A therapeutic method aimed at assisting individuals in overcoming fears and anxiety disorders by progressively exposing them to the object or situation they fear in a regulated way.

Eclectic Approach

A therapeutic approach that incorporates a variety of therapeutic principles and philosophies to create the ideal treatment program to meet the specific needs of the patient.