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coba core Questions with Detailed
Verified Answers
Elephant Inc's cost of goods sold for the year is 2,000,000, and the
average merchandise inventory for the year is 129,000. Calculate
the inventory turnover rate Ans: 15.50
Nation Inc. Calculate accounts receivable turnover rate for 2019.
Ans: 2.50
Pizza Inc. Calculate asset turnover rate Ans: 2.01
the profit margin ratio Ans: is often compared to the industry
average
which of the following would be co side red direct labor cost for a
manufacturing company Ans: wages of the assemby line staff
the direct labor costs and manufacturing overhead costs required
to produce finished goods from raw materials are called Ans:
conversion costs
which of the following is the most appropriate cost driver for
allocating the cost of warranty services Ans: number of service
calls
Rupert is a victim of Sara's violation of a criminal law. Criminal law
is concerned with Ans: wrongs committed against the public as a
whole
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bobs burgers brings a suit, seeking a remedy at law, this is usually
Ans: monetary damages
Fresh Harvest Company, which is based on Georgia, packages
and sells vegetables. Hayden, who is a resident of Indiana, buys a
Fresh Harvest product, eats it, and suffers severe food poisoning.
Hayden wants to file a suit against Fresh Harvest. The diversity of
citizenship between these parties means that Ans: federal and
state courts have concurrent jurisdiction
In Coastal Fishing Company's suit against Dockside Marina, Inc.,
the jury returns a verdict in Coastal's favor. Dockside files a motion
stating that even if the evidence is viewed in the light most
favorable to coastal, a reasonable jury should not have found its
favor. This is a motion for Ans: judgement n.o.v.
Mac and Nan engage in a business transaction from which a
dispute arises. Mac initiates a lawsuit against Nan by filing a
complaint. If Nan responds to MAc's complaint by filing a
counterclaim, then... Ans: Mac will also have to file a response
Loren files a suit against Mabel, alleging a failure to pay for the
harvest of Mabel's orchards. Mabel denies Loren's charge and
claims that Loren breached their contract to harvest a certain
number of acres and owes Mabel money for the breach. Mabel's
claim is Ans: a counterclaim
In Call-Me Cell company's suit against Rude Ringtones Inc the jury
returns a verdict in Call-Me's favor. Call-Me will most likely ask the
court to Ans: enter a judgment in accordance with the verdict
coba core Questions with Detailed
Verified Answers
Elephant Inc's cost of goods sold for the year is 2,000,000, and the
average merchandise inventory for the year is 129,000. Calculate
the inventory turnover rate Ans: 15.50
Nation Inc. Calculate accounts receivable turnover rate for 2019.
Ans: 2.50
Pizza Inc. Calculate asset turnover rate Ans: 2.01
the profit margin ratio Ans: is often compared to the industry
average
which of the following would be co side red direct labor cost for a
manufacturing company Ans: wages of the assemby line staff
the direct labor costs and manufacturing overhead costs required
to produce finished goods from raw materials are called Ans:
conversion costs
which of the following is the most appropriate cost driver for
allocating the cost of warranty services Ans: number of service
calls
Rupert is a victim of Sara's violation of a criminal law. Criminal law
is concerned with Ans: wrongs committed against the public as a
whole
, Page | 2
bobs burgers brings a suit, seeking a remedy at law, this is usually
Ans: monetary damages
Fresh Harvest Company, which is based on Georgia, packages
and sells vegetables. Hayden, who is a resident of Indiana, buys a
Fresh Harvest product, eats it, and suffers severe food poisoning.
Hayden wants to file a suit against Fresh Harvest. The diversity of
citizenship between these parties means that Ans: federal and
state courts have concurrent jurisdiction
In Coastal Fishing Company's suit against Dockside Marina, Inc.,
the jury returns a verdict in Coastal's favor. Dockside files a motion
stating that even if the evidence is viewed in the light most
favorable to coastal, a reasonable jury should not have found its
favor. This is a motion for Ans: judgement n.o.v.
Mac and Nan engage in a business transaction from which a
dispute arises. Mac initiates a lawsuit against Nan by filing a
complaint. If Nan responds to MAc's complaint by filing a
counterclaim, then... Ans: Mac will also have to file a response
Loren files a suit against Mabel, alleging a failure to pay for the
harvest of Mabel's orchards. Mabel denies Loren's charge and
claims that Loren breached their contract to harvest a certain
number of acres and owes Mabel money for the breach. Mabel's
claim is Ans: a counterclaim
In Call-Me Cell company's suit against Rude Ringtones Inc the jury
returns a verdict in Call-Me's favor. Call-Me will most likely ask the
court to Ans: enter a judgment in accordance with the verdict
