(1)The inventoyr turnover calculation: A. is wrong unless cost of goods sold is

Question

(1)The inventoyr turnover calculation:

A. is wrong unless cost of goods sold is used in numerator.

B. is wrong unless sales is used in numerator.

C. is an alternative way of expressing the number of days' sales in inventory.

D. requires knowledge of the inventory cost flow assumption being used.

I know A, B are wrong. Not sure C or D. More leaning toward C

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(2) Asset turn over calculatons:

A. are made by dividing the average asset balance during the year by the sales for the year.
B. are made by dividing sales for the year by the asset balance at the end of the year.
C. communicate information about how promptly the entity pays its bills.
D. should be evaluated by observing the turnover trend over a period of time.

I think  B is wrong since it should be aveage asset balance. So I pick D. Need confimation.

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(3) Firms that issue registered securities are required to file, with the SEC on an annual basis, which of the following?
A. An annual report.
B. A prospectus.
C. A form 10-K.
D. A set of financial statements.
E. All of the above .

I think it is E

Explanation / Answer

1)C

2)D

3)Yes its all of them E

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