Luther Corporation Consolidated Balance Sheet 30 June 2017 and 2018

question 77

Multiple Choice

Luther Corporation Consolidated Balance Sheet 30 June 2017 and 2018 (in $ millions)

-Refer to the balance sheet above. The change in Luther's quick ratio from 2017 to 2018 is closest to:

• A)an increase of 0.10
• B)an increase of 0.15
• C)a decrease of 0.15
• D)a decrease of 0.10

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Definitions:

Force Majeure

A legal clause exempting parties from fulfilling contractual obligations due to unforeseeable circumstances beyond their control, such as natural disasters.

Oral Agreement

A verbal commitment between two or more parties on a set of terms, which can be legally binding in certain circumstances.

Gifts and Gratuities

Items or payments given voluntarily without payment in return, often as a gesture of goodwill or for promotional purposes.

Commercial Bribery

The unethical or illegal practice of influencing the decisions of business personnel through unauthorised gifts or payments.