A corporation reports the following year-end balance sheet data. The company's equity ratio equals: Cash$60,000? Current liabilities$94,000? Accounts receivable 74,000? Long-term liabilities 22,000? Inventory 79,000? Common stock 119,000? Equipment 164,000? Retained earnings 142,000? Total assets$377,000? Total liabilities and equity$377,000?
A. 0.69
B. 0.31
C. 0.44
D. 1.43
E. 2.27
Answer: A
You might also like to view...
_________________ is simply reasoning from an analogy; it is making an argument by comparing two cases.
a. Inductive reasoning b. Analogical reasoning c. Deductive reasoning d. Causal reasoning
Jasper makes a $35,000, 90-day, 8.5% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.)
A. Debit Cash $35,743.75; credit Interest Revenue $743.75; credit Notes Receivable $35,000. B. Debit Cash $35,743.75; credit Notes Receivable for $35,743.75. C. Debit Cash $37,975; credit Interest Revenue $2975, credit Notes Receivable $35,000. D. Debit Notes Payable $35,000; Debit Interest Expense $2975; credit Cash $37,975. E. Debit Cash for $35,000; credit Notes Receivable $35,000.
A director or officer is required to exercise the care that an ordinarily prudent person would exercise in similar circumstances.
Answer the following statement true (T) or false (F)
In the context of breakeven analysis,_____ remain constant regardless of how many products are sold.
A. variable costs B. overhead costs C. fixed costs D. marginal costs