Myriad Canning Company Has the Following Balance Sheet Figures for the Year

question 80

Multiple Choice

Myriad Canning Company has the following balance sheet figures for the year ending December 31,200X: Cash $1,000
Marketable securities $5,000
Inventory $3,000
Total current assets $9,000
Accounts payable $2,000
Notes payable $1,000
Total current liabilities $3,000
What is its net working capital?

• A) $6,000
• B) $9,000
• C) $1,000
• D) $3,000

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Definitions:

Deductive Inferences

The process of reasoning from one or more statements (premises) to reach a logically certain conclusion.

Inductive Inferences

The logical process of deriving general principles from specific observations or instances.

Eighth Grade

An educational level typically attended by students aged 13-14, marking the end of middle school in many education systems.

Working Memory Span

The capacity of working memory, indicating the amount of information one can hold and manipulate in mind for short periods.