The Following Is a Summary of Information Presented on the Financial

question 103

Multiple Choice

The following is a summary of information presented on the financial statements of a company on December 31,2019.

With respect to net income,a horizontal analysis reveals ________.(Round your answer to two decimal places. )

• A)that net income is 14.55% of net sales revenue
• B)a $22,000 increase in net income
• C)a 145.45% decrease in net income
• D)a 145.45% increase in net income

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Definitions:

Civil Law

A legal system originating in Continental Europe, where laws are written and codified, as opposed to being determined by precedent; it governs private matters such as contracts, property, and family law.

Janissaries

Elite infantry units that formed the Ottoman Sultan's guard and army, known for their discipline, loyalty, and unique recruitment methods.

Christian Mercenaries

Historical armed fighters who were motivated by Christian beliefs and hired to serve in foreign armies or engage in private combats during the medieval and early modern periods.

Ottoman Empire

A major empire that lasted from the late 13th century until the early 20th century, centered in modern-day Turkey and extending across parts of Europe, Asia, and Africa.