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Solution Library
Finance Objective Questions - Calculating Days in Inventory and The Events Do Not Effect Quick Ratio
Question
1. A firm has $100 of average inventory, operating profit of $500 and sales of $1,500. Its days in inventory is:
- 36.5 days
- 24.3 days
- 73.0 days
- Not enough information
2. Which of the following isolated events will NOT change the quick ratio for a manufacturer?
- Repayment of short-term debt
- The cash purchase of new machinery
- The credit sale of finished goods
- A customer's cash payment of an outstanding receivable
Summary
These two objective questions in Finance are about finding average days in inventory and the events that will not affect quick ratio.
Total Word Count NA
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