Which one of the following is true?

Which of following correctly specifies the level of the firm's receivables balance?
I). Average annual sales / Average collection period.
II). Average collection period / Average daily sales.
III). Average daily sales X Average collection period.
IV). Credit sales / Accounts receivable turnover.

If a company depreciates equipment by using MACRS for income tax purposes but uses the straight-line method for financial accounting purposes, the tax consequences resulting from the difference will affect:

Paul spends $100 per month on books whether their price rises or falls. His price elasticity of demand for books is (in absolute value):

Which of the following temporary differences ordinarily results in a future tax liability?