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Q. Explain about Inventory Turnover Ratio ?
Inventory Turnover Ratio: - Definite items of inventory are slow moving. It signifies that their consumption is quite slow and capital remains locked up in such items for a long period. As a consequence carrying costs continue to incur on such items. Slow moving items are able to be identified with the help of inventory turnover ratios.
Inventory Turnover Ratio (in times) = Cost of Goods Sold / Average Stock
State about the Detection risk This is the risk that auditors 'substantive procedures don't detect a material misstatement in an account balance or class of transactions. It is
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Gary and Joyce Yau, both 30, last month bought their dream house in London, Ontario. The purchase price was $450,000 plus addition fees such as taxes, legal fees, administration fe
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