Misra Company Compiled the Following Financial Information as of December

question 190

Multiple Choice

Misra Company compiled the following financial information as of December 31, 2015: $$\begin{array} { l r } \text { Revenues } & \$ 340,000 \\\text { Retained earnings } ( 1 / 1 / 15 ) & 60,000 \\\text { Equipment } & 80,000 \\\text { Expenses } & 250,000 \\\text { Cash } & 90,000 \\\text { Dividends } & 20,000 \\\text { Supplies } & 10,000 \\\text { Accounts payable } & 40,000 \\\text { Accounts receivable } & 70,000 \\\text { Common stock } & 80,000\end{array}$$ Misra's assets on December 31, 2015 are

• A) $180,000.
• B) $250,000.
• C) $360,000. d $490,000.

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Definitions:

Government Farm Subsidies

Financial assistance programs provided by the government to support farmers, stabilize food prices, and ensure a stable food supply.

Price Supports

Government interventions to maintain the market price of a commodity or product at a certain minimum level to protect producers.

Competitive Markets

Markets in which multiple firms offer products or services and compete for customers, characterized by the freedom to enter or exit the market based on profitability and demand.

Parity Ratio

Parity ratio is a measure used in economics to compare the value of one aspect of the market or economy to another, often used in analyses of exchange rates and price levels.