THE FOLLOWING INFORMATION IS AVAILABLE ABOUT A COMPANY ($ MILLIONS...

66. - MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM MORNING VERSIONB QUESTIONS 2014 66. - MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM MORNING VERSIONB QUESTIONS 2014
MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM MORNING VERSIONB QUESTIONS 2014

66.

The following information is available about a company ($ millions): Year ended 31 December 2012 2011 Sales 322.8 320.1 Net income 27.2 26.8 Cash flow from operations 15.3 38.1 399388 During 2012, the company most likely experienced a significant decrease in: A. the proportion of sales made on a cash basis. B. inventory, anticipating lower demand for its products in 2013. C. the proportion of interest-bearing debt relative to trade accounts payable.