1. The cash conversion cycle is computed as

		Days sales outstanding + Days inventory outstanding Days payable outstanding
		Days sales outstanding Days payable outstanding
		Days sales outstanding Days inventory outstanding
		Days sales outstanding Days inventory outstanding + Days payable outstanding
		None of the above

2. Which of the following items would not be found on a balance sheet?

		Net income
		Property, plant and equipment
		accounts receivable
		Cash
		Common stocks

3. Which of the following could cause return on net operating assets to increase, all other things equal?

		An increase in average NOA
		Increase in accounts payable
		Increase in inventory
		Decrease in NOPAT
		Decrease in accounts payable

4. Which of the following is not one of the five forces that determine a companys competitive intensity?

		Bargaining power of suppliers
		Threat of substitution
		Bargaining power of buyers
		Threat of entry
		Threat of regulatory intervention

5. On October 2, 2016, Starbucks Corporation reported, on its Form 10-K, the following (in millions):

	2016	2015
Total expenses	$18,497.0	$16,403.4
Net income	$ 2,818.9	$ 2,759.3

Calculate year-over-year increase or (decrease) in net earnings, in percentage terms.

		(33.8)%
		22.0%
		16.5%
		2.2%
		None of the above