ITT Corporation in the most recent period reported current sales receipts of $542 million, current
operating expenditures of $577 million and net new debt issued of $5 million. What change in holdings of
financial assets must have occurred over the period? Was ITT a deficit-, surplus- or balanced-budget unit
in the most recent period? Explain why.

Question

Quizplus · Accepted Answer

The Answer of ITT Corporation in the most recent period reported current sales receipts of $542 million, current
operating expenditures of $577 million and net new debt issued of $5 million. What change in holdings of
financial assets must have occurred over the period? Was ITT a deficit-, surplus- or balanced-budget unit
in the most recent period? Explain why.

ITT Corporation in the Most Recent Period Reported Current Sales