In Each Set Below, Choose the Sentence That Uses the Correct

question 14

Multiple Choice

In each set below, choose the sentence that uses the correct coordinating or subordinating conjunction and that is punctuated correctly. Then select the letter of the correct answer. Which sentence uses the correct coordinating or subordinating conjunction and is correctly punctuated?

• A) Whenever Arnold started telling jokes, he got everyone's attention.
• B) Whenever Arnold started telling jokes he got everyone's attention.
• C) Arnold got everyone's attention, whenever he started telling jokes.

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Definitions:

Liability

A financial obligation or debt that an individual or company owes to another entity, which must be settled over time.

Long-term Debt

Borrowings or financial obligations that are due to be repaid over a period longer than one year.

Pro Forma Financial Statements

Financial statements based on hypothetical scenarios or assumptions about the future of a business.

Spontaneously Generated Funds

Funds generated if a liability account increases spontaneously (automatically) as sales increase. An increase in a liability account is a source of funds; thus, funds have been generated. Two examples of spontaneous liability accounts are accounts payable and accrued wages. Note that notes payable, although a current liability account, is not a spontaneous source of funds since an increase in notes payable requires a specific action between the firm and a creditor.