The Following Statement of Financial Position and Statement of Comprehensive

question 49

Multiple Choice

The following statement of financial position and statement of comprehensive income should be used. How many dollars of sales are being generated by every $1 that Woodburn has in total assets($ in thousands) ? (Use 2018 assets)

• A) $1.01
• B) $1.07
• C) $1.09
• D) $1.12
• E) $1.16

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Definitions:

Certificate of Deposit

A time-bound deposit held at a bank or financial institution that offers a fixed rate of interest.

Consideration

The value, usually in the form of money, goods, or services, exchanged in a contract between parties.

Contractual Capacity

The legal ability of a party to enter into a contract, including being of legal age and possessing a sound mind.

Binding Contract

An agreement between two or more parties that is legally enforceable.