Night Owl,Inc

question 58

Multiple Choice

Night Owl,Inc.reported the following data: The horizontal analysis shows that the amount of total liabilities has ________.

• A) increased by $22,800
• B) increased by $2400
• C) decreased by $2400
• D) increased by $24,000

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Definitions:

Balance Sheet

A report detailing a business's liabilities, assets, and equity held by shareholders at a particular moment, offering a glimpse into its financial status.

Spreadsheet

A spreadsheet is a digital document consisting of rows and columns used to organize, calculate, and manage data, commonly via applications such as Microsoft Excel or Google Sheets.

Manufacturing Overhead

encompasses all manufacturing costs that are not directly associated with the cost of raw materials or direct labor, including rent, utilities, and salaries of managers.

Cost of Goods Sold

The explicit expenses linked to manufacturing the products a business sells, including costs for materials and labor.