Treasure This,Inc

question 230

Multiple Choice

Treasure This,Inc.had total assets of $100,000,total liabilities of $60,000 and stockholders' equity of $40,000 before repurchasing 1,000 shares of its $1 par value common stock for $5 per share.After this repurchase,total assets equal _____,total liabilities equal ______ and stockholders' equity equals ______:

• A) $95,000; $60,000; $35,000
• B) $100,000; $55,000; $45,000
• C) $100,000; $65,000; $35,000
• D) $105,000; $60,000; $45,000

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Definitions:

Conspiracy

A secret plan by a group to do something unlawful or harmful, or the belief in such secret schemes.

Product

An item, service, or idea offered to the market for consumption, use, or acquisition.

Sherman Act

A landmark federal statute in the U.S. antitrust law prohibiting monopolistic and anti-competitive practices.

Price Fixing

An illegal agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain market conditions so the price remains at a given level.