A Firm Began the Current Fiscal Year with Total Assets

question 49

Multiple Choice

A firm began the current fiscal year with total assets of $8 million, common shares of $4 million and retained earnings of $2 million.At the end of the current year the firm reported net income of $1 million, all of which was retained by the firm.The debt-to-asset ratio for this reporting period is:

• A)0.25
• B)0.125
• C)0.75
• D)0.5

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Definitions:

Spatial Abilities

The ability to comprehend, rationalize, and recall the spatial relationships between objects or areas.

Mathematical Abilities

The capacity to perform and understand various mathematical operations, concepts, and problem-solving techniques.

Cerebral Hemispheres

The two halves of the brain, each controlling the opposite side of the body and specializing in different functions, such as language and spatial abilities.

Less Lateralized

Pertaining to functions or processes in the brain that are less dominantly localized to one hemisphere than is typically observed.