Accounting Test Question No IFS 1 : Interpretation Of Financial Statements
Accounting Test Question No IFS 1: Details of financial performance of Company XYZ For year 2005 Income Statement: Net Sales – $ 7 million, Cost of Goods sold -$ 3 million Net Income – $1.2 million Balance Sheet ($’000):-
The average industry for Company’s line of business are: Inventory Turnover 5 times Average Collection period 45 days Asset Turnover 2 times Required: Evaluate Company XYZ’s asset management relative to its industry. |
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