Selected Financial Statement Data for Two Years Ended December 31

question 183

Multiple Choice

Selected financial statement data for two years ended December 31 for Carey Co. follow. Assets are reported at their year-end value.​ What is the days' cash on hand for each year?

• A)Year 2: 251.5; Year 1: 248.5
• B)Year 2: 210.1; Year 1: 208.9
• C)Year 2: 258.1; Year 1: 265.1
• D)Year 2: 215.6; Year 1: 222.9

---

Definitions:

Consolidated Financial Statements

Financial statements that show the combined financial position and results of operations of a parent company and its subsidiaries.

Combined Reporting

A method used in corporate taxation that combines the tax reports of related companies into one comprehensive report.

Corporation

A legal entity that is separate and distinct from its owners, capable of owning assets, incurring debts, and entering into contracts.

Bond Investment Transactions

A financial activity involving the buying or selling of bonds, which are debt securities issued by entities to raise funds.