Current assets and current liabilities for Brayden Company are as follows:​​ What conclusions can be drawn regarding Brayden's ability to meet its financial obligations?​

A) The current ratio has worsened, and the working capital has decreased.
B) The current ratio has improved, and the working capital has increased.
C) The current ratio has improved, while the working capital has decreased.
D) The current ratio has worsened, but the working capital has increased.

In order to be classified as a cash equivalent, an investment must have a maturity date of

A) less than six months
B) three to six months
C) six to twelve months
D) three months or less

Holding negative, irrational opinions and attitudes toward members of diverse populations is considered to be ___.

A) discrimination
B) unethical
C) illegal
D) prejudice
E) immoral

Recent research estimates that the short-run price elasticity of demand for gasoline in the U.S. is -0.3, and the long-run price elasticity of demand is -1.4. What happens if the government increases the federal gasoline tax?

A) Consumer expenditures on gasoline increase over the short run and long run.
B) Consumer expenditures on gasoline decline over the short run and increase over the long run.
C) Consumer expenditures on gasoline increase over the short run and decline over the long run.
D) Consumer expenditures on gasoline decrease over the short run and long run.

Under the perpetual system, when merchandise is sold, the journal entry would include a:

A) debit to Merchandise Inventory; a credit to Accounts Payable or Cash.
B) debit to Cost of Goods Sold; a credit to Merchandise Inventory.
C) debit to Accounts Receivable or Cash and a credit to Sales.
D) Both B and C are correct.

Refer to Scenario 10-1. Suppose the dollar amount of the externality, per gallon of gasoline, is constant, regardless of how much gasoline is produced. Then the externality could be internalized if producers of gasoline were

A) provided a subsidy of $0.11 per gallon of gasoline sold.
B) provided a subsidy of $0.29 per gallon of gasoline sold.
C) required to pay a tax of $0.29 per gallon of gasoline sold.
D) required to pay a tax of $0.11 per gallon of gasoline sold.