Question 17 Not yet answered Marked out of 2.00 P Flag question Which one of the following would be considered a contingent liability? Select one: A. A company owes $200,000 on inventories purchased on credit. O B. A company has 51,690,000 worth of bonds outstanding, C. A company estimates that it will probably have to pay $2,200,000 to the Department of Environment Protection for a chemical spill, D. The company has access to a line of credit with a bank in the amount of $3,000,000, Question 18 Not yet answered Marked out of 200 P Flag Question On September 1, 2019. Nichole Company's balance sheet indicates there are 1,800,000 shares of $60 par value common shares in the Common Stock account and $1,350,000 in the Additional Paid-in Capital account. There are 3,000,000 shares authorized. On September 2, Nichole splits its stock 2 for 1. How many shares of Nichole common stock are issued and outstanding immediately after the stock split? Select one: A. 4,200,000 B. 900,000 C. 12,000,000 D. 3,600,000 Question 21 Not yet answered Marked out of 2.00 P Flag question Which of the following is one measure of liquidity? Select one: O A. Debt-to-equity ratio B. Times-interest-earned ratio C. Quick ratio D. None of the above Question 22 Not yet answered Marked out of 2.00 P Flag question A corporation: Select one: O O o O A. Is subject to less regulation and supervision than a partnership B. Is less costly to organize than a partnership C. is subject to federal income taxes on its earnings, whereas a partnership is not D. Has an owner's capital account for each owner, whereas a partnership does not