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Principles of Finance

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Principles of Finance
snazzlefrag Offline
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#20
06-03-2006, 03:00 PM
Hi All,

I just took the Thomas Edison 20-question mock exam for Principles of Finance. I only got two wrong....I'm happy with that.

One of my wrong answers was a silly mistake. But I can't figure out the reasoning behind the other question I got wrong.

Maybe an accounting/math/finance guru can help me understand how TESC came up with the answer they did.

Here's the question:

------
A firm has a current ratio of 2.4, a quick ratio of 1.5, an inventory turnover of 6 times, and current liabilities of $600,000. What is the firm's level of sales?

a. $1,420,000
b. $1,960,000
c. $2,160,000
d. $3,240,000 <---- Correct Answer
------

I understand each of the individual elements contained in the question. But I can't figure out how to put it all together to find the "level of sales".

Can anyone help?
My name is Rob
_____________________________________
Exams/Courses Passed (43):
- Courses (4): 1 Excelsior, 1 CSU-Pueblo, 2 Penn Foster.
- Exams (39): 24 DSST, 15 CLEP.

Total Credits: 142 (12 not used).
[SIZE=1]GPA: 4.0
[/SIZE]
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Messages In This Thread
Principles of Finance - by Kiwi Lover - 05-15-2006, 07:45 PM
Principles of Finance - by snazzlefrag - 05-15-2006, 09:05 PM
Principles of Finance - by snazzlefrag - 05-15-2006, 11:50 PM
Principles of Finance - by Kiwi Lover - 05-16-2006, 12:10 PM
Principles of Finance - by snazzlefrag - 05-16-2006, 12:46 PM
Principles of Finance - by snazzlefrag - 05-16-2006, 12:53 PM
Principles of Finance - by anar579 - 05-16-2006, 01:25 PM
Principles of Finance - by snazzlefrag - 05-16-2006, 01:57 PM
Principles of Finance - by snazzlefrag - 05-28-2006, 02:36 AM
Principles of Finance - by snazzlefrag - 05-30-2006, 01:35 PM
Principles of Finance - by libartsmgr - 05-30-2006, 03:46 PM
Principles of Finance - by snazzlefrag - 05-30-2006, 04:02 PM
Principles of Finance - by Kiwi Lover - 05-30-2006, 04:33 PM
Principles of Finance - by snazzlefrag - 05-30-2006, 05:38 PM
Principles of Finance - by adrian - 05-31-2006, 03:49 PM
Principles of Finance - by dhlvrsn - 05-31-2006, 03:51 PM
Principles of Finance - by snazzlefrag - 05-31-2006, 05:18 PM
Principles of Finance - by snazzlefrag - 05-31-2006, 05:21 PM
Principles of Finance - by libartsmgr - 05-31-2006, 06:32 PM
Principles of Finance - by snazzlefrag - 06-03-2006, 03:00 PM
Principles of Finance - by Kiwi Lover - 06-04-2006, 02:01 PM
Principles of Finance - by snazzlefrag - 06-04-2006, 03:40 PM
Principles of Finance - by Kiwi Lover - 06-04-2006, 05:43 PM
Principles of Finance - by snazzlefrag - 06-05-2006, 03:53 AM
Principles of Finance - by snazzlefrag - 06-07-2006, 11:45 PM
Principles of Finance - by adrian - 06-08-2006, 10:13 AM
Principles of Finance - by Kiwi Lover - 06-08-2006, 01:29 PM
Principles of Finance - by snazzlefrag - 06-09-2006, 06:26 AM
Principles of Finance - by yutzyj - 06-09-2006, 09:22 AM
Principles of Finance - by Kiwi Lover - 06-09-2006, 10:33 AM
Principles of Finance - by snazzlefrag - 06-09-2006, 02:46 PM
Principles of Finance - by Librevore - 06-09-2006, 09:37 PM
Principles of Finance - by snazzlefrag - 06-26-2006, 01:38 PM
Principles of Finance - by yutzyj - 06-26-2006, 02:12 PM
Principles of Finance - by avi - 08-22-2006, 01:22 AM
Principles of Finance - by Librevore - 08-22-2006, 01:40 AM
Principles of Finance - by ridin8ude - 06-29-2007, 10:13 AM
Principles of Finance - by snazzlefrag - 06-29-2007, 10:41 AM
Principles of Finance - by Kiwi Lover - 06-29-2007, 10:45 AM

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