Given the Following Information, Calculate the Debt Ratio Percentage: Liabilities

question 90

Multiple Choice

Given the following information, calculate the debt ratio percentage: Liabilities = $25,000
Liquid assets = $5,000
Monthly credit payments = $800
Monthly savings = $760
Net worth = $75,000 Take-home pay = $2,300
Gross income = $3,500
Monthly expenses = $2,050

• A) 33.33 percent
• B) 30.00 percent
• C) 3.00 percent
• D) 3.20 percent
• E) 8.20 percent

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Definitions:

Equitable Remedy

A judicial order enforcing a party to act or refrain from acting in a certain way, distinct from awarding damages.

Material And Willful

Refers to an action done intentionally and with a solid understanding of its consequences, often used in legal contexts to describe behavior.

Status Quo

The existing state of affairs or current condition, typically used in context with agreements or legal situations.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, even though no contract exists between the parties.