Table 4.1 Ruff Sandpaper Co

question 134

Multiple Choice

Table 4.1
Ruff Sandpaper Co.
Balance Sheets
For the Years Ended 2009 and 2010
-The largest single source of funds for the firm in 2010 is ________. (See Table 4.1)

• A) an increase in net profits after taxes.
• B) an increase in notes payable.
• C) an increase in long-term debt.
• D) an increase in inventory.

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Definitions:

Investment

The allocation of resources, usually money, in the expectation of generating an income or profit over time.

Compounded Semi-Annually

The process of calculating and adding interest to the principal sum of a loan or deposit twice a year.

9 Years

A period of time equivalent to nine cycles of 365 (or 366 in leap years) days, commonly used in reference to durations or time frames in various contexts.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights of those involved.