21. The normal term structure of interest rates shows a line on the normal yield curve as a. flat during the investment horizon b. downward sloping during the investment horizon c. upward sloping during the investment horizon 22. ABC Inc. reported the following for 2020: Net income $400,000, Sales $6,000,000, average current assets $2,000,000, average total assets $4,000,000, average inventory $800,000, and average debt $2,500,000. Calculate the inventory turnover for 2020 ________________________

23. The use of accelerated depreciation will ___ the NPV of a capital budget model. a. Increase b. Decrease c. Not change d. Depends upon the hurdle rate 24. On a statement of cash flows the line labeled accounts receivable in the operating activities section shows ($5,000). This indicates a. The AR balance increased by $5,000 during the period b. The AR balance decreased by $5,000 during the period c. Total AR for the period was $5,000 d. None of the above