1. All of the following are characteristics of a Stock, except?
Form of capital
Vote directly for management
Entitlement to equity
Entitlement to stock dividends (if paid)
2. A firm has an average annual accounts receivable balance of $3,200,000, an average annual inventory balance of $2,700,000, annual sales of $15,000,000, and annual cost of goods sold of $13,500,000. How many days does it take the firm to sell its inventory and collect the payment on the sale (assume all sales are on credit)?
150.87
143.57
73
4.87