Max's Tire Center

question 28

Multiple Choice

Max's Tire Center
Selected data from the financial statements of Max's Tire Center are provided below.

-Refer to the selected data provided for Max's Tire Center. Which of the following would result from a horizontal analysis of Max's balance sheet?

• A) Total liabilities increased 8.7% during 2012.
• B) Total liabilities increased 7.8% during 2012.
• C) Total liabilities is 30% of total assets in 2012.
• D) The total of liabilities & equity is $500,000 in 2012.

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Definitions:

Modified Leaves

Leaves that have undergone changes to serve functions other than photosynthesis, such as tendrils or spines.

Store Water

The process or capability of retaining water in bodily tissues, cells, or reservoirs in organisms or systems.

Modified Leaves

Specialized structures that arise from the leaf base and perform functions other than photosynthesis, such as protection, reproduction, or storage.

Tendrils

Slender, twining stems or leaf appendages used by climbing plants for support.