Chestnut,Inc

question 99

Multiple Choice

Chestnut,Inc.reported the following balances on its balance sheet at December 31,Year 1:

On January 1,Year 2,Chestnut purchased equipment for $40,000 on account.What is the company's debt-to-assets ratio immediately after the purchase of the equipment?

• A)0.42
• B)0.46
• C)0.37
• D)0.34

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Definitions:

Vietnam War

A prolonged conflict (1955-1975) in Southeast Asia, which pitted the Communist government of North Vietnam against South Vietnam and its principal ally, the United States.

Government Reports

Official documents published by governments to present research findings, policy analyses, and recommendations on various topics.

Vietcong

A political organization and army in South Vietnam and Cambodia that fought the United States and South Vietnamese governments during the Vietnam War, utilizing guerrilla warfare.

Anti-Americanism

A sentiment that opposes American politics, culture, or people, often resulting from political disagreements, cultural differences, or historical conflicts.