Figure 1-1 -Refer to Figure 1-1. Using the Information in the Figure

question 46

Multiple Choice

Figure 1-1
-Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2008 and 2011.

• A) 23.1%
• B) 23.8%
• C) 30%
• D) 42.9%

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Definitions:

Sale of Equipment

This transaction involves disposing of business equipment, typically recorded as a gain or loss in the financial statements, depending on the sale price versus book value.

Common Stock

A type of equity ownership in a corporation, with voting rights and potential dividends, that takes last priority in asset distribution upon liquidation.

Purchase of Equipment

The act of acquiring equipment for business operations, typically considered a capital expenditure.

Comparative Balance Sheet

Financial statements that display a company’s financial position at different points in time, side by side, to facilitate comparison.