In Its Industry Norms and Key Business Ratios,Dun & Bradstreet

question 19

Multiple Choice

In its Industry Norms and Key Business Ratios,Dun & Bradstreet reported that Q1,Q2,and Q3 for 2,037 gasoline service stations' sales to inventory ratios were 20.8,33.4,and 53.8,respectively.From this we can conclude that ____________.

• A)68% of these service stations had sales to inventory ratios of 20.8 or less
• B)50% of these service stations had sales to inventory ratios of 33.4 or less
• C)50% of these service stations had sales to inventory ratios of 53.8 or more
• D)95% of these service stations had sales to inventory ratios of 33.4 or more
• E)99% of these service stations had sales to inventory ratios of 53.8 or more

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Definitions:

Journalize

The act of documenting monetary transactions within a journal during a stage in the accounting cycle.

Dividends

Payments made by a corporation to its shareholders, often as a distribution of profits.

Journal Entry

A record in accounting that notes the debit and credit transactions affecting a company's financial statements.

Stockholders

Individuals or entities that own shares in a corporation, giving them certain rights and responsibilities.