Indooroopilly & Sons Reports

question 35

Multiple Choice

Indooroopilly & Sons reports:
Total assets $ 950 000
Profit 80 000
Current liabilities 570 000
If current assets = 40% of total assets Indooroopilly's current ratio is:

• A)1 to 2.
• B)3 to 2.
• C)2 to 1.
• D)2 to 3.

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Definitions:

Sherman Act

A foundational piece of antitrust legislation in the United States that aims to prevent monopolies and promote competition.

Bait and Switch

A deceptive marketing strategy where a customer is attracted by the advertisement of a low-priced item but is then persuaded to buy a more expensive one.

Factory Seconds

Products that are not sold as 'first-quality' due to minor defects or imperfections, often available at reduced prices.

Power Drill

A tool equipped with a cutting tool attachment or driving tool attachment, usually a drill bit or driver bit, used for drilling holes in various materials or fastening materials together.