Orca Industries Below Are the Two Most Recent Balance Sheets

question 68

Multiple Choice

Orca Industries Below are the two most recent balance sheets and most recent income statement for Orca Industries.The company has an effective tax rate of 35%.
Income Statement
For the year ended December 31,2011
Refer to the information for Orca Industries.Orca's accounts receivable turnover is (assume that Orca makes all sales on account)

• A) 7.0
• B) .53
• C) 11.2
• D) 10

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Definitions:

Directional Selection

Outcome of natural selection in which an extreme phenotype is favored, usually in a changing environment.

Cladogram

In cladistics, a branching diagram that shows the relationship among species in regard to their shared derived characters.

Common Ancestor

An ancestral species from which two or more species evolved.

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring, a fundamental concept in evolutionary biology.