The McCumber Corporation data for the current year:

With respect to long-term liabilities,what would a horizontal analysis report?
A)Long-term liabilities decreased by 6.15%.
B)Long-term liabilities increased by $8,000.
C)Long-term liabilities increased by 6.15%.
D)Long-term liabilities decreased by $1,800.

Question

The McCumber Corporation data for the current year:

With respect to long-term liabilities,what would a horizontal analysis report?
A)Long-term liabilities decreased by 6.15%. 
B)Long-term liabilities increased by $8,000. 
C)Long-term liabilities increased by 6.15%. 
D)Long-term liabilities decreased by $1,800.

Quizplus · Accepted Answer

B)
Long term liabilities Prior $30,000
Current 38,000
Increase 8,000

The McCumber Corporation Data for the Current Year