Citrine Company Reported the Following on Its Income Statement

question 153

Multiple Choice

Citrine Company reported the following on its income statement:
An analysis of the income statement revealed that interest expense was $50,000.Citrine Company's times-interest-earned ratio was:

• A) 11.
• B) 5.
• C) 18.
• D) 9.

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Definitions:

Standard-Size

Referring to items or products that are made to a specific, uniform set of dimensions or measurements to ensure consistency and compatibility.

Legal Assent

A mutual agreement under contract law wherein all parties involved acknowledge and adhere to the terms of a contract, making it legally binding.

Scienter

Knowledge of wrongdoing or fraudulent intent, often a necessary element in fraud cases.

Intent To Deceive

A deliberate act or condition of willfully misleading someone or concealing the truth to gain an unfair advantage.