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(Solved) 37. Nico Corporation has cost of goods sold of $300,000 and


37. 

  • Nico Corporation has cost of goods sold of $300,000 and inventory of $30,000, then the inventory turnover is ________ and the average age of inventory is ________.

30; 36.0


36.5; 10


10; 36.5


36.0; 10


The tax deductibility of various expenses such as general and administrative expenses ________.

has an unpredictable effect on their after-tax cost


increases their pretax cost


reduces their after-tax cost


has no effect on their after-tax cost


39. 

Under the judgmental approach for developing a pro forma balance sheet, the "plug" figure required to bring the statement into balance may be called the ________.

retained earnings


external financing required


accounts receivable


cash balance


40. 

An efficient market is one where ________.

prices of stocks move up and down widely without apparent reason


the price of a security is an unbiased estimate of its true value


prices of stocks remain low for long periods of time


prices of stocks are unaffected by market news


37

 


 

10; 36.5

 


 

38

 


 

reduces their after-tax cost

 


 

39

 


 

external financing required

 


 

40

 


 

the price of a security is an unbiased estimate of its true value

 


 

 


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Oct 15, 2019

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