Total Assets Less Net Fixed Assets Equals ________

question 65

Multiple Choice

Total assets less net fixed assets equals ________.

• A) gross assets
• B) current assets
• C) depreciation
• D) liabilities and equity

Recognize the purposes and effects of stock splits and stock dividends on par value, market value, and shareholders' equity.

Know how treasury stock transactions are recorded and their impact on financial statements.

Understand the reporting of treasury stock in financial statements and its impact on stockholders' equity.

Identify and describe the components disclosed in the Stockholders' equity section of the balance sheet.

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Definitions:

Epistasis

An interaction between genes in which the effect of one gene is modified or completely masked by another gene.

Polygenic Inheritance

Inheritance in which several independently assorting or loosely linked nonallelic genes modify the intensity of a trait or contribute to the phenotype in additive fashion.

Incomplete Dominance

a genetic phenomenon where the phenotype of a heterozygote is intermediate between the phenotypes of the two homozygotes.

True Breeding

Refers to organisms that produce offspring of the same variety when they self-pollinate or mate with other true-breeding organisms of the same traits.