Calculate Sales Given the Following Data

question 246

Multiple Choice

Calculate sales given the following data. Total fixed assets $400,000; long-term liabilities $155,000; total liabilities $280,000; total shareholders' equity $320,000; net working capital turnover 20.

• A) $1,500,000
• B) $1,700,000
• C) $1,900,000
• D) $2,100,000
• E) $2,250,000

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Definitions:

Shareholder

An individual or entity that owns one or more shares of stock in a corporation, giving them certain rights and interests in the company.

Strict Liability

A legal doctrine that holds a party responsible for their actions without the need to prove fault or negligence.

Vicarious Liability

Vicarious Liability is a legal principle that holds one party responsible for the actions of another party, under certain conditions, such as an employer being liable for the actions of an employee.

Truck Driver

A professional operator of a truck or large vehicle, responsible for transporting goods and materials from one location to another.