As a firm’s cash flows become more predictable
11) As a firm’s cash flows become more predictable,
A) the return on equity should increase. B) the current ratio should expand.
C) current liabilities should decrease. D) current assets should decrease.
12) If Nico Corporation has annual purchases of $300,000 and accounts payable of $30,000, then
average purchases per day are ________ and the average payment period is ________.
A) 821.9; 36.5 B) 833.3; 36.0 C) 36.0; 833.3 D) 36.5; 821.9
13) The ________ is a popular approach for evaluating profitability in relation to sales by expressing
each item on the income statement as a percent of sales.
A) source and use statement B) retained earnings statement
C) profit and loss statement D) common-size income statement
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