Last Year, Which Is Used as the Base Year, a fiRm

question 256

Multiple Choice

Last year, which is used as the base year, a firm had cash of $60, accounts receivable of $100, inventory of $200, and fixed assets of $500. This year the firm has cash of $50, accounts
Receivable of $150, inventory of $250, and fixed assets of $550. What is the common-base year
Value of accounts receivable?

• A) .12
• B) .15
• C) .67
• D) 1.16
• E) 1.50

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Definitions:

Slaves and Slavery

The forced bondage and labor of people, where individuals are owned by others, a practice historically found in various cultures and societies around the world.

1770s and 1780s

The decades marking the American Revolutionary War and the formative years of the United States, leading to the adoption of the Constitution.

Loyalists

Individuals who remain loyal to the established government or ruling authority, especially during times of revolt or revolution.