Use the Table for the Question(s)below

question 53

Multiple Choice

Use the table for the question(s) below.
Statement of Financial Position

-The above diagram shows a statement of financial position for a certain company.All quantities shown are in millions of dollars.How would the balance sheet change if the company's long-term assets were judged to depreciate at an extra $5 million per year?

• A)Net property,plant,and equipment would rise to $126 million,and Total Assets and Stockholders' Equity would be adjusted accordingly.
• B)Net property,plant,and equipment would fall to $116 million,and Total Assets and Stockholders' Equity would be adjusted accordingly.
• C)Long-Term Liabilities would rise to $182 million,and Total Liabilities and Stockholders' Equity would would be adjusted accordingly.
• D)Long-Term Liabilities would fall to $172 million,and Total Liabilities and Stockholders' Equity would be adjusted accordingly.
• E)Net property,plant,and equipment would be unchanged,and Total Assets and Stockholders' Equity would also remain the same.

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Insanity

A legal term describing a person's inability to understand the wrongfulness of their actions due to mental illness at the time of a crime.

England

A country that is part of the United Kingdom, known for its rich history, diverse culture, and significant global influence.

Mens Rea

A legal term referring to the mental state of a person while committing a crime, showing intention or knowledge of wrongdoing.

Conviction

A firmly held belief or opinion, or the formal declaration that someone is guilty of a criminal offense by the verdict of a jury or the decision of a judge in a court of law.