INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 18

Short Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
Your gross income was $32,000; your net income was $25,000; you saved $1,000. Your savings ratio was [ 3% | 4% ].

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Definitions:

Liabilities

Financial obligations or debts owed by a business to creditors, which can be current (due within one year) or long-term.