Which of the Following Statements About Financial Statement Information Is

question 107

Multiple Choice

Which of the following statements about financial statement information is correct?

• A)If a company has total revenues of $80,000,total expenses of $50,000 and dividends of $10,000,they will have net income of $20,000.
• B)A company with total stockholders' equity of $45,000 and total assets of $75,000 must have total liabilities of $120,000.
• C)A company with liabilities of $80,000 and stockholders' equity of $50,000 will have assets of $30,000.
• D)A company with total stockholders' equity of $120,000 and common stock of $75,000 must have total retained earnings of $45,000.

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Definitions:

Muscle Tension

Physical condition in which muscles remain semi-contracted for an extended period, often as a response to stress or physical exertion.

Narcolepsy

A “sleep attack” in which a person falls asleep suddenly and irresistibly.

Insomnia

A sleep disorder characterized by difficulty falling asleep, staying asleep, or both, leading to impaired daytime functioning.

Respiratory Diseases

A group of illnesses that affect the lungs and other parts of the respiratory system, such as asthma, bronchitis, and emphysema.