Consider a Firm with a 2007 Net Income of $20

question 100

Multiple Choice

Consider a firm with a 2007 net income of $20 million, revenue of $60 million and cost of goods sold of $25 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) 42.00
• D) 4.16
• E) 20.00

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Definitions:

Poise

The state of being balanced, graceful, and self-assured in manner or bearing.

Good Manners

The socially acceptable behaviors and actions that are considered polite and respectful in various social settings.

Perception Of Competence

The extent to which others believe an individual has the ability or skills to perform effectively.

Unspoken Rules

Implicit norms or conventions that are understood and followed by members of a community or society but are not formally documented.