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QUESTION 19

1. If the profit margin is 15.5% and investment turnover is 1.3 times, return on investment is:

   	a.	1.30%
   	b.	11.92%
   	c.	15.50%.
   	d.	None of the options is correct
   	e.	20.15%

1 points

QUESTION 20

1. From the following data calculate the estimated cash received from credit sales during the month of May. Credit sales for March, $25 000; April, $30 000; May, $18 000. Credit sales are normally settled in the following pattern: 50% in the month of sale, 40% in the month following the sale, and 10% in the second month following the sale

   	a.	$21 000
   	b.	$18 000
   	c.	$23 500
   	d.	$12 000
   	e.	$9 000