True and False

1. A lower Accounts Receivable Turnover Ratio is generally better, but too low might indicate that the firm is denying credit to creditworthy customers thereby losing sales.

2. Common-size financial statements cannot aid in spotting important trends over time, which is obvious when looking at dollar amounts.

3. If the percent of sales forecast shows that there will be a higher level of liabilities and equity than assets, the firm is said to have a surplus of discretionary funds.

4. In Excel, the formula bars, near the bottom of the screen, enable you to move easily from one workbook to another in a worksheet.