Jones Corp

question 188

Multiple Choice

Jones Corp.reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet.The working capital is:

• A)141%.
• B)71%.
• C)($56,000).
• D)$56,000.
• E)41%.

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Definitions:

Agent

An individual or entity authorized to act on behalf of another (the principal) in transactions or other matters.

Duty Of Obedience

The requirement for directors and officers of an organization to act in accordance with its goals and directives.

Clearly Stated

Expressed in a manner that leaves no doubt about the meaning or intentions.

Good Faith

The principle of honesty and sincerity in dealings, especially in fulfilling contractual obligations.