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1) Credit departments are normally found in. A) most retail firms. B) most manufacturing...

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Finance

1) Credit departments are normally found in.

A) most retail firms.

B) most manufacturing firms.

C) most wholesale firms.

D) A and B above.

E) B and C above.

2)

Nova sells 5,000 boxes of brakes per year. Nova determined that they pay $50 to process an order. Their purchase price is $6 for each. Nova has determined that storage costs for one year are 25 percent of the purchase price. The supplier said that if Nova purchased 1,000 boxes at a time, they would receive a 10 percent discount. The total cost formula is TC=DP + (QIP/2) + (DS/Q). What is Nova's annual carrying cost if they exercise the advantage of the discount?

A) $250

B) $578

C) $433

D) $675

3) If Nova Bike has over 1000 rolls of fiber wire for their frame printers stored at the factory, these rolls would be classified as ________ inventory.

A) finished goods

B) maintenance, repair, and operating

C) raw materials

D) work in progress

E) none of these

4) Business obligations that are normally paid within one year are?

A) LT liabilities

B) equipment loans.

C) long-term debt.

D) mortgages.

E) short-term debt

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