Rags to Riches Selected Data from the Financial Statements Are

question 125

Multiple Choice

Rags to Riches Selected data from the financial statements are provided below:
$\begin{array}{ll}& \underline{ 2015 } & \underline{ 2014 } \\ \text { Accounts Receivable } &\$ 120,000 & \$ 76,000 \\ \text { Inventory } &24,000 & 32,000 \\ \text {Total Assets } &900,000 & 760,000 \\ \text { Net Sales } &760,000 & 540,000 \\ \text { Cost of Goods Sold } &320,000 & 420,000\end{array}$
-Refer to Rags to Riches.Which of the following would be found through ratio analysis of the company's financial statements?

• A)The accounts receivable turnover ratio is 7.76 in 2015.
• B)Cost of goods sold increased $50,000 or 23.8% in 2015.
• C)Accounts receivable increased $22,000 during 2015.
• D)Total assets decreased 18.4% during 2015.

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Definitions:

70 and Above

Refers to the age group of individuals who are 70 years old or older, often considered in discussions of geriatric health, welfare, and social considerations.

Mortality

The state of being mortal or the rate at which death occurs within a particular population.

Gait Speed

The speed at which a person walks, often used as an indicator of mobility and health in older adults.

Standing Ability

The capability of an individual to maintain an upright posture without assistance.