At the End of the Year Just Completed,Orem Company's Total

question 109

Multiple Choice

At the end of the year just completed,Orem Company's total current liabilities were $75,000,and its total long-term liabilities were $225,000.Working capital at year-end was $100,000.If the company's debt-to-equity ratio is 0.30 to 1,total long-term assets must equal which of the following?

• A) $1,000,000.
• B) $1,125,000.
• C) $1,225,000.
• D) $1,300,000.LTA = 1,300,000 - (100,000 + 75,000)= $1,125,000.

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Definitions:

Fully Socialized

refers to the process by which individuals learn and internalize the norms, values, behaviors, and social skills appropriate to their society through socialization.

Justice

The principle of fairness, moral righteousness, and the administration of the law as it pertains to maintaining the balance between individual rights and communal welfare.

Teasing

The act of playfully or mockingly disturbing or provoking someone, often in a humorous or affectionate manner.

My Lai

A mass murder of unarmed South Vietnamese civilians by U.S. troops in March 1968 during the Vietnam War.