Corona Company's Balance Sheet Accounts Follow

question 90

Multiple Choice

Corona Company's balance sheet accounts follow:
-What is Corona Company's inventory turnover ratio for 2014,assuming net sales and gross profit for the period were $1,236,783,and $927,587 respectively?

• A)10.96
• B)3.25
• C)3.00
• D)3.67
• E)4.20

---

Definitions:

Government Securities

Financial instruments issued by a government to raise funds from investors, typically featuring lower risk and fixed interest payments.

Discount Rate

The interest rate charged by central banks to commercial banks for short-term loans.

Expansionary policy

Economic policies aimed at increasing the supply of money or reducing taxation to stimulate economic growth, typically undertaken during a recession.

Contractionary Policy

Economic policies intended to reduce spending and slow down inflation, often through increased interest rates or reduced government spending.