SSS Ltd Has Provided Information from Its Financial Statements for the Year

question 11

Multiple Choice

SSS Ltd has provided information from its financial statements for the year ended 30 June 2018. $$\begin{array} { l r } \text { Sales (all on credit) } & \$ 2,000,000 \\\text { Gross profit on sales } & 1,000,000 \\\text { Net profit } & 150,000 \\\text { Cost of sales } & 1,000,000 \\\text { Inventory at end of year } & 200,000 \\\text { Accounts receivable at end of year } & 500,000\end{array}$$
-The company trades 365 days per year. The number of times SSS's inventory turned over for 2018 is:

• A)2.0 times.
• B)5.0 times.
• C)5.5 times.
• D)2.2 times.

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Definitions:

Placebo Effects

The beneficial effects in a patient following a treatment that arise from the patient's expectations rather than from the treatment itself.

Self-Report Bias

A type of bias occurring when respondents to a survey or study may not accurately or truthfully respond, affecting the validity of the data.

Non-Representative Sample

A sample that does not accurately reflect the broader population, potentially leading to biased results in research.

Control Group

In experimental research, the group that does not receive the treatment or intervention, serving as a comparison for measuring the effect of the treatment.