1.Difference B/t Operating Cycle and Accounting Cycle (3)
2.Calculated Ratio of net income as % of net sale (3)

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Net income = 155000
Net sale = 2200,000

3. Calculate Time interest earned to the nearest tenth (5)
Sale = 1850000
Net Income= 180000
Interest expense = 12000
Interest Paid = 14000

4.Calculate Trend % by taking the 1996 as the base year (5)
Years 1996 1997 1998 1999 2000 2001
Sale 450000 360000 330000 321000 312000 300000
Income 22950 14550 21450 19200 15600 15000

5.Find the Average account receivable (5)
Year 1 Year 2
Sale 2600000 3100000
Average A/R 400000 416000
And Other Mcq’s all past paper