Based on the Following Data for the Current Year, What

question 64

Multiple Choice

Based on the following data for the current year, what is the number of days' sales in inventory (rounded to the next whole day) ? $\begin{array}{ll}\$ 1,204,000 & \text { Net sales on account during the ye ar } \\630,000 & \text { Cost of merchandise sold chring the year } \\75,000 & \text { Accounts receivable, beginning of year } \\85,000 & \text { Accounts receivable, end of year } \\81,600 & \text { Inventory, beginning of year } \\98,600 & \text { Inventory, end of year }\end{array}$

• A) 58
• B) 48
• C) 53
• D) 30

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Definitions:

Confirmation Bias

Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Principle Of Falsifiability

The principle that a scientific theory must make predictions that are specific enough to expose the theory to the possibility of disconfirmation; that is, the theory must predict not only what will happen but also what will not happen.

Denialism

The refusal to accept well-established facts or evidence, often in the context of scientific or historical truths.

Cognitive Inertia

The tendency of human minds to stick to existing thought patterns or beliefs, resisting changes even in the face of new information.