The records of Everyday Electrons Corporate for a particular period include the following: The return on equity ratio is closest to: a. 13.2% b. 23.8% c. 24.0% d. 8.4% Which of the following does not property describe the depreciate process? a. It is an allocation process. b. It is consistent with the matching principle. c. It involves the use of estimates. d. It attempts to determine an asset's market value. Young Company is involved in a lawsuit. When would the lawsuit be recorded as a liability on the balance sheet? a. When the loss probability is remote and the amount can be reasonably estimated. b. When the loss is probable and the amount can be reasonably estimated. c. When the loss probability is reasonably possible and the amount can be reasonably estimated. d. When the loss is probable regardless of whether the loss can be reasonably estimated. On March 1, Wright Company purchased new equipment for $50,000 by paying cash. Other costs associated with the equipment were: transportation costs, $1,000; sales tax paid $4,000