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Unformatted text preview: (a) Inventory turnover ratio. (b) Days in inventory. (c) Both (a) and (b). (d) None of the above. Answer: (c) Both (a) and (b). Which of these is not a liquidity ratio? (a) Current ratio. (b) Asset turnover rat (c) Inventory turnove (d) Receivables turno Answer: (b) Asset turnover ratio Plano Corporation reported net income $24,000; net sales $400,000; and average assets $600,000 for 2010. What is the 2010 profit margin ratio? (a) 6%. (b) 12%. (c) 40%. (d) 200%. Answer: (a) 6%....
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This note was uploaded on 11/08/2011 for the course ACCOUNTING ac 201 taught by Professor - during the Spring '11 term at Montgomery.
- Spring '11