NO.PZ2016012102000170
问题如下：
PZ company's financial statements.
Based on these information, which of the following conclusions would be most likely correct?
选项：
A.Inventory management has contributed to improved operating activities
B.Changes in its credit and collections policies with its customers has contributed to improved operating activities
C.Changes in credit policies from suppliers has contributed to improved operating activities
解释：
A is correct.
To analyze this firm's operating strategy, calculate its activity ratios:
In this table, the firm's activity ratios have changed most are the ratios about inventory. Days of inventory on hand is decreasing, and the ratios related to receivables and payables almost remain the same. Thus inventory management has contributed to improved operating activities.
考点：财务报表分析
这道题是让你综合运用所学到的财务报表分析技术，分析这个公司的各项财务指标，这就要求你不仅要掌握各个指标的计算公式，还需要掌握这个公式代表的意思。
首先，先要计算公司近几年的财务比率：
在该表中，企业的财务指标变化最大的是存货相关的比率。 库存周转天数正在减少，然而应收账款和应付账款相关的比率几乎保持不变。 因此可以推断出，公司库存管理帮助了公司改善经营活动。
老师能举个例子算下2015的存货周转率吗，不是应该直接用2015年的COGS除以2015年的存货价值吗，算出来和答案对不上
