Durable Plastics Company Had the Following Total Assets,liabilities,and Equity as of December

question 23

Multiple Choice

Durable Plastics Company had the following total assets,liabilities,and equity as of December 31. What is the company's debt ratio as of December 31? (Round your percentage answer to two decimal places. )

• A)31.67%
• B)68.33%
• C)100.00%
• D)46.34%

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Definitions:

Limited Liability Company

A flexible form of business enterprise that blends elements of partnership and corporate structures, offering personal liability protection to its owners.

Nonprofit Corporation

A legal entity organized for a collective purpose, such as charitable, educational, cultural, or social welfare, without intent for profit distribution to its members or directors.

Merger Approval

The official sanction by regulatory authorities allowing two or more companies to consolidate into one entity.

Cash-Out Combinations

Financial strategies or transactions where owners of a business sell their stake in the company, partially or entirely, for cash.