Max's Tire Center Company

question 62

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 vertical analysis of Max's income statement in 2012?

• A) Net sales increased by $10,000 or 2.78% during 2012.
• B) Net sales is $360,000 in 2012.
• C) Capital expenditures is 100% of total assets in 2012.
• D) Cost of goods sold is 50% of net sales in 2012.

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Definitions:

Poverty

A situation in which people or groups do not have the necessary financial means and basic needs to maintain a minimum quality of life.

Single Mother

A woman raising her child or children without the involvement of the father or a partner.

Anglo-Protestantism

Cultural and religious practices stemming from the English Reformation, influencing social and political norms in English-speaking countries.

Deism

A belief system that posits the existence of a supreme being who does not intervene in the universe or in the lives of humans after its creation, emphasizing reason and observation of the natural world.