Question : 111. Refer to the above data. Claret Corporation's inventory turnover for : 1267476

 

 

111. Refer to the above data. Claret Corporation's inventory turnover for 2009 is: 
A. 6.6 times.
B. 3.9 times.
C. 4.1 times.
D. 94 days.

 

 

112. Refer to the above data. Claret Corporation's gross profit rate for 2009 is: 
A. 60.1%.
B. 39.9%.
C. 33%.
D. 68%.

 

 

113. Refer to the above data. Claret Corporation's return on assets for 2009 rounded to the nearest tenth of a percent is: 
A. 9.9%.
B. 4.1%.
C. 5.9%.
D. 16.9%.

 

 

114. Refer to the above data. Claret Corporation's return on common stockholders' equity for 2009, rounded to the nearest tenth of a percent, is: 
A. 5.9%.
B. 6.05%.
C. 14.4%.
D. 9.4%.

 

 

115. In an attempt to standardize financial practices worldwide, two areas of particular interest to the International Accounting Standards Committee are: 
A. Capitalizing and expensing
B. Segments and consolidations
C. Pensions and Leases
D. Partnerships and corporation

 

 

116. An organization that provides ratings of corporate governance services is: 
A. SEC
B. ISS
C. IRS
D. IBM

 

 

 

Essay Questions
 

117. Accounting terminology
Listed below are eight technical accounting terms introduced in this chapter:
  
Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the term described, or answer "None" if the statement does not correctly describe any of the terms.
(a) The percentage of total assets financed by creditors.
(b) A measure of the effectiveness with which management utilizes a company's resources, regardless of how those resources are financed.
(c) A company's percentage share of total dollar sales within its industry.
(d) Current assets less current liabilities.
(e) A measure reflecting investors expectations of future profitability.
(f) A measure of short-term solvency often used when a company has large inventories that cannot be quickly converted into cash.
(g) A ratio that helps individual stockholders relate the net income of a large corporation to their equity investment.