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000
Sales revenue
20,000
Cost of sales
Current assets
(17,000)
2008
2009
000
000
Inventories
4,000
5,000
Trade receivables
2,500
3,000
Investments
3,000
1,500
200
500
Bank overdraft
3,800
1,650
Trade payables
9,000
6,000
Taxation
800
1,000
Dividend (proposed)
100
200
Current liabilities
Assume that sales and cost of sales for the year 2008 were 10% below 2009 levels.
Inventory turnover days for 2009 are higher or lower than 2008 by
a. - 12.5%
b. - 25.0%
c. + 12.5%
d. + 25.0%
5. The following are extracts from the income statement for the year ended 31 December 2009 and
the balance sheet as at 31 December 2009.
000
Sales revenue
20,000
Cost of sales
(17,000)
2008
2009
000
000
Current assets
Inventories
4,000
5,000
Trade receivables
2,500
3,000
Investments
3,000
1,500
200
500
Bank overdraft
3,800
1,650
Trade payables
9,000
6,000
800
1,000
Current liabilities
Taxation
Dividend (proposed)
100
200
Assume that sales and cost of sales for the year 2008 were 10% below 2009 levels.
Average trade receivables collection days for 2009 are higher or lower than 2008 by
a. - 8.0%
b. + 10.6%
c. + 8.0%
d. - 10.6%
6. The following are extracts from the income statement for the year ended 31 December 2009 and
the balance sheet as at 31 December 2009.
000
Sales revenue
20,000
Cost of sales
(17,000)
2008
2009
000
000
Current assets
Inventories
4,000
5,000
Trade receivables
2,500
3,000
Investments
3,000
1,500
200
500
Current liabilities
Bank overdraft
3,800
1,650
Trade payables
9,000
6,000
Taxation
800
1,000
Dividend (proposed)
100
200
Assume that sales and cost of sales for the year 2008 were 10% below 2009 levels.
Average trade payables days for 2009 are higher or lower than 2008 by
a. - 40.0%
b. + 40.0%
c. + 33.3%
d. - 33.3%
7. The following are extracts from the income statement for the year ended 31 December 2009 and
the balance sheet as at 31 December 2009.
000
Sales revenue
20,000
Cost of sales
(17,000)
2008
2009
000
000
Current assets
Inventories
4,000
5,000
Trade receivables
2,500
3,000
Investments
3,000
1,500
200
500
Bank overdraft
3,800
1,650
Trade payables
9,000
6,000
Taxation
800
1,000
Dividend (proposed)
100
200
Current liabilities
Assume that sales and cost of sales for the year 2008 were 10% below 2009 levels.
The operating cycle for 2009 is
a. 33 days
b. 107 days
c. 129 days
d. 55 days
8. A management philosophy that incorporates a pull system of producing or purchasing components
and products in response to customer demand describes