The Ranger Corporation Data for the Current Year and Prior

question 184

Multiple Choice

The Ranger Corporation data for the current year and prior year is as follows: What would a horizontal analysis report with respect to net sales revenue show?

• A)Cost of goods sold is 80.70% of net sales revenue
• B)A sales return of 9.14%
• C)An increase of 19.20% in net sales revenue
• D)Accounts receivable turnover of 8.08 times

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Definitions:

Double Taxation

The imposition of taxes on the same income, asset, or financial transaction at two different levels of government, often seen with corporate earnings taxed at both the corporate level and again as shareholder dividends.

Ownership Transfer

The process by which ownership rights of a property or business are transferred from one party to another.

Unlimited Liability

Unlimited Liability means that the owners of a business are personally responsible for all of the debts of the business, without any limit on the amount for which they might be liable.