-Please Refer to the Financial Data for Link,Inc

question 11

Multiple Choice

-Please refer to the financial data for Link,Inc.above.Assume a 365-day year for your calculations.Link's days' sales in cash at the end of 2014 is:

• A) 24.3
• B) 28.8
• C) 219.6
• D) 249.7
• E) None of the above.

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Definitions:

Personal-Use Property

Items owned for personal enjoyment or use, such as a residence or car, that typically do not qualify for tax deductions or depreciation.

FMV

Fair Market Value is an estimate of the market value of a property or asset, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller.

§179 Expense

A section of the U.S. tax code that allows a business to deduct the full purchase price of qualifying equipment or software within the tax year.

Business Assets

Economic resources or items of value owned by a company that are expected to provide future benefits or profits.