Max's Tire Center Company

question 26

Multiple Choice

Max's Tire Center Company
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) Net sales increased by $2,300 or 10.0% during 2012.
• B) Net accounts receivable increased $12,300 or 28.47% during 2012.
• C) Net accounts receivable is 12.0% of total assets in 2012.
• D) The total assets is $462,500 in 2011.

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Definitions:

Laugh

A vocalized expression of amusement or joy, often characterized by rhythmic, audible contractions of the diaphragm and other parts of the respiratory system.

CEO

Chief Executive Officer, the highest-ranking individual in a company or organization, responsible for making major corporate decisions.

Chairman

The presiding officer or leader of an organized group, such as a board, committee, or meeting.

Secretary

An administrative position responsible for managing correspondence, keeping records, and performing general office tasks.