Kopas Corporation Has Provided the Following Data The Inventory Turnover for This Year Is Closest To:
A)

question 2

Multiple Choice

Kopas Corporation has provided the following data:
$\begin{array}{lrr}&\text { This Year}&\text { Last Year }\\\text { Accounts receivable ....... } & \$ 89,000 & \$ 107,000 \\\text { Inventory .................... } & \$ 160,000 & \$ 156,000 \\\text { Sales on account .......... } & \$ 627,000 & \\\text { Cost of goods sold.......... } & \$ 488,000 &\end{array}$ The inventory turnover for this year is closest to:

• A) 3.09
• B) 0.98
• C) 1.03
• D) 3.05

Distinguish between mental set and functional fixedness, and understand how each affects problem-solving.

Explain the role of heuristics, such as the representativeness and availability heuristics, in influencing judgment.

Recognize the influence of cognitive biases, such as confirmation bias and the fallacy of positive instances, on decision-making and judgment.

Understand the impact of language rules, including syntax and displacement, on communication.

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Definitions:

Held To Maturity

A classification for financial securities which the holder intends and is able to keep until they mature.

Effective Yield

A measure of the return on an investment, accounting for the effect of compounding interest more accurately than nominal yield.

Interest Revenue

Income earned by a company for lending money or allowing another entity to use its funds, reported on the income statement.

Temporary Decline

A short-term decrease in the value of an asset or market without indication of a prolonged downturn.