Consider a Firm with an Annual Net Income of $20

question 105

Multiple Choice

Consider a firm with an annual net income of $20 million, revenue of $60 million and cost of goods sold of $20 million. If the balance sheet amounts show $2 million of inventory and $500,000 of property, plant & equipment, what is the inventory turnover?

• A) 12.50
• B) 10.00
• C) 40.00
• D) 8.00
• E) 30.00

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Definitions:

Obliging

A conflict management style characterized by attempting to minimize differences and emphasizing commonalities to satisfy the concerns of the other party.

Conflict Style

A person's typical approach to handling disagreements, ranging from avoidant to collaborative strategies.

Competitiveness

The desire to win or be more successful than others.

Calm Persistence

The approach of steadily and patiently continuing with an action or stance, even in the face of obstacles or opposition, without showing agitation.