Table 3.1 Information (2019 Values)

question 123

Multiple Choice

Table 3.1 Information (2019 values)
1.Sales totaled $110,000
2.The gross profit margin was 25 percent.
3.Inventory turnover was 3.0.
4.There are 360 days in the year.
5.The average collection period was 65 days.
6.The current ratio was 2.40.
7.The total asset turnover was 1.13.
8.The debt ratio was 53.8 percent.
-Total assets for CEE in 2019 were ________.(See Table 3.1)

• A)$45,895
• B)$124,300
• C)$58,603
• D)$97,345

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Definitions:

Product Category

A broad classification that groups products based on common characteristics or needs.

Product Line Extension

The addition of new products to an existing product line within the same brand, usually to target a different customer segment or fill a gap in the product offering.

New-Product Strategies

The plans and approaches a business undertakes to bring new products to the market effectively.

Product Diversification

A strategy employed by companies to increase profitability and achieve growth by adding new products or entering into different markets that differ from the existing lineup.