The Following Is Summary of Information Presented on the Financial

question 91

Multiple Choice

The following is summary of information presented on the financial statements of a company on December 31,2015. What would a horizontal analysis report show with respect to long-term liabilities?

• A)long-term liabilities decreased by $30,000
• B)long-term liabilities decreased by 40%
• C)long-term liabilities decreased by 13.33%
• D)long-term liabilities decreased by $10,000

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Definitions:

Negligent

Failure to take proper care in doing something, leading to damage or injury to others.

Lawful Action

Actions or behaviors that are in accordance with legal requirements and legislations.

Gasoline Tanker Truck

A large vehicle designed for transporting liquid petroleum products, especially gasoline, from refineries to distribution points.

Discriminate

To make a distinction in favor or against someone or something based on the group, class, or category rather than according to actual merit.