The Following Financial Statement Information Is Available for Buil Corporation

question 67

Multiple Choice

The following financial statement information is available for Buil Corporation: $\begin{array}{lrr}&2020&2019\\\text { Inventory } & \$ 44,000 & \$ 43,000 \\\text { Current assets } & 80,000 & 106,000 \\\text { Total assets } & 432,000 & 358,000 \\\text { Current liabilities } & 25,000 & 36,000 \\\text { Total liabilities } & 102,000 & 88,000\end{array}$ The current ratio for 2020 is

• A) .31:1.
• B) 3.2:1.
• C) 1.5:1.
• D) 4.24:1.

Comprehend when risk of loss passes in various scenarios involving goods under a contract.

Identify the conditions under which goods are considered fungible.

Recognize the implications of F.O.B. terms in sales contracts on risk of loss and transportation costs.

Distinguish between the different titles to goods and their legal implications.

---

Definitions:

Constant Rate

A fixed rate at which something occurs or is applied.

Term Papers

Research papers written by students over an academic term, accounting for a large part of a grade.

Specialization And Trade

The economic practice where individuals or entities focus on a narrow area of expertise to increase efficiency and trade with others for different goods or services.

Consume More

The action or tendency of increasing the use or consumption of goods and services.