A firm has assets of 60000 and owners equity of 33000 which

Reference no: EM13477513

1. Which of the following would result in a decrease in cash flow and a use of cash?

A. A decrease in notes payable
B. An increase in long-term debt
C.A decrease in inventory
D. A decrease in common stock

2. In the United States, for the 2007 tax year, federal corporate income tax rates never exceeded an average rate of

A. 15%. C. 39%.
B. 35%. D. 34%.

3. A firm has assets of $60,000 and owners' equity of $33,000. Which of the following is the correct balance of the firm's liabilities?

A. $33,000 C. $93,000
B. $27,000 D. $60,000

4. Which of the following would result in an increase in cash flow and a source of cash?

A. A decrease in notes payable
B. A decrease in long-term debt
C. An increase in inventory
D. An increase in common stock

5. A firm has current assets of $10,000 and current liabilities of $7,000. Which of the following is the correct net working capital for the firm?

A. $10,000 C. $3,000
B. $7,000 D. $13,000

Reference no: EM13477513

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