The Following Is a Summary of Information Presented on the Financial

question 18

Multiple Choice

The following is a summary of information presented on the financial statements of The Cake Company on December 31, 2014.
$\begin{array}{|l|r|c|}\hline \text { Account }&2014&2013\\\hline \text { Current assets } & \$ 65,000 & \$ 50,000 \\\hline \text { Accounts receivable } & 80,000 & 75,000 \\\hline \text { Merchandise inventory } & 50,000 & 40,000 \\\hline \text { Current liabilities } & 75,000 & 50,000 \\\hline \text { Long-term liabilities } & 30,000 & 50,000 \\\hline \text { Common stock } & 50,000 & 40,000 \\\hline \text { Retained earnings } & 40,000 & 25,000\\\hline \\\hline \text { Net sales revenue } & \$ 525,000 & \$ 500,000 \\\hline \text { Cost of goods sold } & 400,000 & 395,000 \\\hline \text { Gross profit } & \$ 125,000 & \$ 105,000 \\\hline \text { Selling and general expenses } & 45,000 & 50,000 \\\hline \text { Net income before income tax expense } & \$ 80,000 & \$ 55,000 \\\hline \text { Income tax expense } & \$ 24,000 & 16,500 \\\hline \text { Net income } & \$ 56,000 & \$ 38,500 \\\hline\end{array}$


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What would horizontal analysis report with respect to long-term liabilities?

• A) That long-term liabilities decreased by $30,000
• B) That long-term liabilities decreased by 40%
• C) That long-term liabilities decreased by 60%
• D) That long-term liabilities decreased by 67%

Know the specifications for AC leakage, stator windings configuration, and diode usage in alternators.

Understand the different types of alternators and their applications.

Explain how alternators are tested for maximum output and diagnosed for issues.

Understand the mechanical drive relationships and factors affecting alternator speed and output.

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Definitions:

Emotion

A complex psychological state involving an experiential, physiological, and behavioral response to a personally significant matter.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow in his 1943 paper "A Theory of Human Motivation," which describes a hierarchy of human needs.

Pyramid

A structure or system shaped with a broad base that narrows towards the top, often used metaphorically to describe hierarchies.

Personal Examples

Specific instances or experiences from an individual's life used to illustrate or explain a concept or phenomenon.