# Mt 482 Unit 1 Quiz

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MT482 Unit 1 Quiz These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. | Date and Time Started: | 9/24/2013 10:59:52 AM | Time Spent: | 07 min , 15 secs | Points Received: | 20 / 20 (100%) | | | | Grade Details - All Questions | 1. | Question : | Given the following information, calculate the inventory turnover for ABC Co. for 2006 (pick closest number). | | | Student Answer: | | 8.96 | | | | 7.22 | | | | 6.93 | | | | 6.18 | | | | | 2. | Question : | A common size income statement would typically be prepared by dividing: | | | Student Answer: | | all items on income statement in Year t by their corresponding value in Year t-1. | | | | all items on income statement in Year t by their corresponding balance sheet accounts in Year t. | | | | all items on income statement in Year t by net income in Year t-1. | | | | all items on income statement in Year t by sales in Yeart. | | | | | 3. | Question : | You have prepared a trend series for Company XYZ for three years, 2004-2006 inclusive, using 2004 as the base year. Below are selected data. Which of the following statements is incorrect? | | | Student Answer: | | Net Income in 2006 increased by 28% compared to 2004. | | | | XYZ's net income to sales (return on sales) increased in 2006 compared to 2004. | | | | XYZ's net income to sales (return on sales) decreased in 2006 compared to 2004. | | | | Assets have increased over time. | | | | | 4. | Question : | Which of the following statements is correct? | | | Student Answer: | | The more efficiently a company utilizes its assets, the greater its return on investment, all other things being equal. |