Use the Following Information for Questions

question 61

Multiple Choice

Use the following information for questions.
Nelly Inc. reported net credit sales of $24,000,000 and cost of goods sold of $18,000,000 for the year. The average inventory for the year was $6,000,000.
-The inventory turnover ratio for the year was

• A) 3.0 times.
• B) 33.3 times.
• C) 4.0 times.
• D) 25.0 times.

Understand the historical development and characteristics of money.

Distinguish between formal and informal economies.

Comprehend the concepts of leveling mechanisms, and their role in maintaining social balance.

Recognize the impact of cultural and economic patterns on environmental adaptation strategies.

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Definitions:

Social Resources

Social Resources are the networks and connections individuals have that can provide support, information, and access to opportunities.

Personality Traits

Fundamental features that define and differentiate individuals' patterns of behavior, thought, and emotion.

Best Performance

The highest level of achievement or excellence that an individual or organization has demonstrated in a particular activity or field.

Attitudes

The evaluations, feelings, and behavioral tendencies directed towards people, objects, or concepts.