The Nichols Corporation data for the current year:

What would a horizontal analysis report with respect to long-term liabilities?
A)Long-term liabilities increased by $6,000.
B)Long-term liabilities decreased by 5.92%.
C)Long-term liabilities increased by 6.21%.
D)Long-term liabilities decreased by $1,500.

Question

The Nichols Corporation data for the current year:

What would a horizontal analysis report with respect to long-term liabilities?
A)Long-term liabilities increased by $6,000. 
B)Long-term liabilities decreased by 5.92%. 
C)Long-term liabilities increased by 6.21%. 
D)Long-term liabilities decreased by $1,500.

Quizplus · Accepted Answer

A)
Long term liabilities Prior $30,000
Current 36,000
Increase 6,000

The Nichols Corporation Data for the Current Year