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

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

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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