Illusions, Inc

question 160

Multiple Choice

Illusions, Inc. has current assets of $52,000, long-term assets of $262,700, current liabilities of $42,600, and long-term debt of $154,700. Illusions' debt ratio is: (Round your final answer to two decimal places, X.XX%.)

• A)75.1%.
• B)49.16%.
• C)62.69%.
• D)58.89%.

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Definitions:

Private Carriers

Transportation entities that transport goods or passengers exclusively for their own company's needs, as opposed to public carriers that offer services to the general public.

Bailments

Bailments refer to the process of placing personal property in the temporary custody or control of another, with the expectation of its return or disposal as per agreement.

Common Carriers

Businesses that offer transportation services to the public for goods or passengers under regulatory and licensing requirements.

Principles of Law

Fundamental doctrines or tenets that form the foundation and framework of legal systems and guide the interpretation and application of laws.