Use the Table for the Question(s)below

question 47

Multiple Choice

Use the table for the question(s) below.
-The above diagram shows a balance sheet for a certain company. All quantities shown are in millions of dollars. How would the balance sheet change if the company's long-term assets were judged to depreciate at an extra $5 million per year?

• A)Net property, plant, and equipment would rise to $187 million, and Total Assets and Shareholders' Equity would be adjusted accordingly.
• B)Net property, plant, and equipment would fall to $177 million, and Total Assets and Shareholders' Equity would be adjusted accordingly.
• C)Long-term Liabilities would fall to $172 million, and Total Liabilities and Shareholders' Equity would be adjusted accordingly.
• D)Long-term Liabilities would rise to $182 million, and Total Liabilities and Shareholders' Equity would be adjusted accordingly.

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Lawsuit

A legal action brought in court by one party against another for the enforcement of a right or the redress of a grievance.

Pleadings

Written statements filed with a court by parties in a legal dispute, detailing the claims, defenses, and other legal arguments.

Complaint

A formal legal document filed in a court by a party alleging harm or wrongdoing by another party, and seeking legal redress or relief.

Summons

A legal document issued by a court or a government official that orders an individual to appear in court.