At the Beginning of the Year,a Firm Had Current Assets

question 74

Multiple Choice

At the beginning of the year,a firm had current assets of $121,306 and current liabilities of $124,509.At the end of the year,the current assets were $122,418 and the current liabilities were $103,718.What is the change in net working capital?

• A)-$19,679
• B)-$11,503
• C)-$9,387
• D)$1,809
• E)$21,903

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Definitions:

Payroll

The total amount of wages and salaries paid by a company to its employees, as well as the process of calculating and distributing these payments.

Line Managers

Supervisors directly responsible for managing employees and overseeing their day-to-day work.

Statutory Benefits

Mandatory benefits that employers are required to provide to employees by law, such as social security, workers' compensation, and minimum wage.

Federal Law

The body of law created by the federal government of a country, as opposed to state or local laws, which governs issues like commerce, taxation, and civil rights.