If a Firm Has Net Sales of $400,000, Annual Cost

question 7

Multiple Choice

If a firm has net sales of $400,000, annual cost of goods sold of $315,000, an inventory turnover of 4.5 times a year, and an accounts receivable turnover of five times a year, the combined investment in inventories and accounts receivable would be:

• A) $64,500
• B) $92,000
• C) $122,500
• D) $150,000

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Definitions:

Defensive Cells

Cells within the immune system that are involved in protecting the body against both infectious disease and foreign invaders.

Reproductive Cells

Cells specialized for sexual reproduction, capable of undergoing meiosis to produce gametes or fertilized to form a new organism.

Excretory Organs

Organs involved in the process of removing waste products and excess substances from an organism's body, such as kidneys in humans.

Choanoflagellate

A group of free-living unicellular and colonial flagellate eukaryotes considered to be the closest living relatives of the animals.