FIN 200 Week 4 CheckPoint Week Four Quiz

FIN 200 Week 4 CheckPoint Week Four Quiz - 1) A rapid rate...

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1) A rapid rate of growth in sales may require A. increased borrowing by the firm to support the sales increase. B. higher dividend payments to shareholders. C. the firm to be more lenient with credit customers. D. sales forecasts to be made less frequently. 2) A firm utilizing LIFO inventory accounting would, in calculating gross profits, assume that A. all sales were from beginning inventory. B. all sales were from current production. C. sales were from current production until current production was depleted, and then use sales from beginning inventory. D. all sales were for cash. 3) A firm has beginning inventory of 300 units at a cost of $11 each. Production during the period was 650 units at $12 each. If sales were 700 units, what is the value of the ending inventory using LIFO? A. $3,250 B. $2,750 C. $3,300 D. $2,550 4) In developing data for accounts receivable for the pro forma balance sheet, the analyst is most likely to turn to the: A. cash budget. B. pro forma income statement.
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This note was uploaded on 01/04/2011 for the course FIN 200 taught by Professor Williams during the Spring '08 term at University of Phoenix.

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FIN 200 Week 4 CheckPoint Week Four Quiz - 1) A rapid rate...

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