The Following Data Represent Selected Information from the Comparative Income

question 109

Multiple Choice

The following data represent selected information from the comparative income statement and balance sheet for Hot Rolled Corporation for the years ended December 31,2017 and 2016: •10,000 shares of common shares have been issued and outstanding since the company was established.They had a market value of $90 per share on December 31,2016,and they were selling for $91.50 on December 31,2017.
Refer to the table above.The debt ratio for Hot Rolled Corporation on December 31,2017,was:

• A) 87
• B) 1.82
• C) 0.55
• D) 0.54

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Definitions:

Method of Payment

This refers to the way in which a payment is made for a transaction, which can include cash, credit card, cheque, or electronic transfers.

Single Delivery

Refers to the process where all goods under a contract are delivered at once, rather than in separate instalments.

Installments

Payments made over time in parts or fractions towards settling a total debt or purchase price.

Commercial Impracticability

A doctrine under which a party may be released from a contract due to unforeseen and hardship-causing events that make the contract's performance infeasible.