Inventory Turn Is the Cost of Goods Sold Divided by the Average

question 34

True/False

Inventory turn is the cost of goods sold divided by the average inventory value.

---

Definitions:

Environmental Impact Statement

A document that outlines the potential environmental effects of proposed projects or actions, often required by law before such activities can proceed.

Unsecured Creditor

A creditor who lends money without obtaining specified assets as collateral, making recovery of loaned funds upon debtor's default less certain.

Secured Creditor

a creditor with the right to claim specific assets of the debtor in case of nonpayment of a debt.

Estate

An estate encompasses all the property, both real and personal, owned by an individual at the time of their death.