Single choice 1) Which of the following statements is/are correct? 1. CAGR (Compound Average Growth Rate) is used to smooth returns so the they can be more easily compared between alternative investments 2. Trend analysis does not have to be restricted to financial data but can also use commercial data such as the level of emissions Neither statement is correct Only statement 1 is correct Only statement 2 is correct Both statements are correct Single choice 2) Which of the following observations about a revaluation reserve is not correct? O A revaluation reserve arises when property, plant and equipment is revalued upwards to its market value Revaluation reserves represent the excess cash over book value received from the sale of a non-current asset Revaluation reserves are an example of a non-distributable reserve The revaluation reserve is based on accounting estimates rather than objective transaction values Single choice 3) A company has a cash conversion cycle of 30 days (positive). If the receivable days are 48 days and the payable days are 97 days what are the inventory days? O 19 days 79 days O 115 days O 175 days