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Multiple Choice Question 79
Parker Hardware Store had net credit sales of $8,000,000 and cost of
goods sold of $5,000,000 for the year. The Accounts Receivable
balances at the beginning and end of the year were $600,000 and
$700,000, respectively. The receivables turnover was
11.4 times.
12.3 times.
4.6 times.
7.7 times.
2Multiple Choice Question 49
Which one of the following is not a tool in financial statement
analysis?
Ratio analysis
Horizontal analysis
Vertical analysis
Circular analysis
3IFRS Multiple Choice Question 243
Under IFRS, there is no classification for
changes in accounting principles.
changes in accounting estimates.