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An increasing inventory turnover ratio indicates that a company: has reduced the time it takes to purchase and sell inventory
For the year ended December 31, ABC Company cost of goods sold was $48,000. Inventory at the beginning of the year was $6,000
Firms are experiencing a period of rising prices and expect the trend to continue for a long time. Which of the following gen
ABC Company purchases equipment by paying cash in the amount of $20,000 and signing a note payable in the amount of $80,000.
Which of the following best describes the terms book value or depreciation ? Depreciation is the process of allocating th
Which of the following below is an example of a capital expenditure? Replacing a damaged tire on a company truck Tune-up and
Which of the following is not an operating asset? Equipment used in the operations of a business Patents for assets used or s
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Answer #1

1.Has reduce the time to take purchase and sell the inventory

2.Inventory turnover ratio =cost of goods sold/average inventory

cost of goods =48000

average inventory =begging inventory+ending inventory/2

= 10000+6000/2=8000

inventory turnover ratio=48000/8000=6.0

3.compared to FIFO,LIFO Result the lowest current income tax

4.testing costs inccured prior to using the equipment

5.answer is A

6.A,B and C are related to captal expentiture.becouse capital expentiture means includes maintaining,buy and improving fixed assets

7.c is the answer

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