Question

The government of the United States is best described as Select one: O a. a constitutional monarchy. Ob. a democratic republi
The financial statements of Carrier Office Furniture Company include the following items: 2019 $50,500 2018 $46,000 13,000 98
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Answer #1

Solution:

Requirement 1:

The answer is b) A democratic Republic.

Reason:

1) In United States some decisions are taken by democratic processes and some by elected representatives. So, It is democratic republic.

2) Option a is not correct because in constitutional monarchy the ruling will be done by king or queen. So, it is incorrect.

3) Option c is not correct because anarchy means there will is no government or law. So, it is incorrect.

4) Option d is not correct because in United States some decisions are taken by democratic processes and some by elected representatives. So, it is incorrect.

5) Option e is not correct because confederation reminds government with group of nations. So, it is incorrect.

Requirement 2:

The answer is C) $ 64,500

Current Assets
Cash $          50,500
Short term investments $          25,000
Net accounts receivables $          92,000
Merchandise Inventory $        164,000
Total Current Assets (a) $        331,500
Current Liabilities (b) $        267,000
Working capital (a - b) $          64,500

Notes: Working Capital = Current Assets - Current Liabilities

So, the remaining options A,B,D are incorrect.

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