Tomkin Company Had Current Liabilities of $400,000,current Assets of $650,000,total

question 160

Essay

Tomkin Company had current liabilities of $400,000,current assets of $650,000,total liabilities of $1,300,000 and total assets of $2,200,000.What is Tomkin's debt to equity ratio,rounded to one decimal place?

Recognize the legal authority and responsibilities of agents acting on behalf of principals.

Identify the legal doctrines related to employment, including employment at will and exceptions to it.

Understand the concept of ratification and its significance in the context of agency and employment law.

Comprehend the principles of estoppel and how they apply to employment and agency relationships.

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Definitions:

TFC

Total Fixed Cost, which is the sum of all costs that remain constant regardless of the level of production or output.

TVC

Total Variable Costs, which are the costs that change with the level of production or service delivery.

MC

Refers to Marginal Cost, the extra cost incurred from producing one more unit of a good or service.

Profit-Maximizing

Profit-Maximizing refers to the point at which a firm achieves the highest possible profit through the manipulation of production or pricing strategies.