A company has Cash of $10,000, Accounts Receivable of $2,000, Inventory of $3,000, Long-Term Assets of $40,000, Accounts Payable of $5,000 and a Long-Term Bank Loan of $50,000. Calculate the company's current ratio.

Select one:

a. 1.0

b. 2.4

c. 10.0

d. 3.0

Controls:

Select one:

a. are a system of rules that govern international businesses

b. are financial goals that a business works towards

c. include procedures that are used to check and regulate business operations systematically

d. none of the choices

What are the two types of share capital that are reported separately in the shareholders equity section.

Select one:

a. special shares and common shares

b. preferred shares and common shares

c. preferred shares and not preferred shares

d. common shares and uncommon shares

Cost of goods sold, office supplies expense and depreciation expense impact:

Select one:

a. profitability ratios

b. debt to equity ratios

c. balance sheet ratios

d. liquidity ratios

The purpose of internal controls is to provide reasonable assurance regarding the achievement of the:

Select one:

a. effectiveness and efficiency of operations

b. all of the choices

c. compliance with applicable laws and regulators

d. reliability of financial reporting