Excerpts from Tigner Corporation's Most Recent Balance Sheet Appear Below

question 67

Multiple Choice

Excerpts from Tigner Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,230 and the cost of goods sold was $820.
-The working capital at the end of Year 2 is:

• A)$740
• B)$790
• C)$430
• D)$150

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Definitions:

Total Outstanding Stock

The total shares of a company's stock that are currently owned by all its shareholders, including shares held by institutional investors and restricted shares.

Corporate Form

A legal structure for businesses recognized by law as a separate legal entity with rights, privileges, and liabilities distinct from those of its owners.

Limited Liability

A legal principle that protects a company's shareholders from being personally responsible for the company's debts, limiting their losses to the amount invested.

U.S. Economy

The economic system of the United States, characterized by a mixed economy that supports free market activities with some governmental intervention.