Wiley's has total equity of $679,400, long-term debt of $316,900, net working capital of $31,600, and total assets of $1,123,900. What is the total debt ratio?

a. .53
b. .40
c. .67
d. .49
e. .63

Ans: b. .40

Business

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A tenant leased a property for two years. The tenant holds over after expiration of the lease without the landlord's consent. The holdover tenant's rights in the property would be considered a:

A. Tenancy in common. B. Tenancy at sufferance. C. Joint tenancy. D. Tenancy for years.

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A movie theater was built ten years ago. If the neighborhood is now zoned entirely residential, the movie theater:

A. will have to be torn down B. must be remodeled to better conform to the neighborhood's intended use C. will be allowed to continue if the owner obtains a conditional use permit D. will be allowed to continue since it was built before the new zoning law went into effect

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