If the Total Assets of a Business Are $107,000 and Its

question 306

Multiple Choice

If the total assets of a business are $107,000 and its liabilities are $75,000,which of the following statements is correct?

• A)The owners' equity equals $182,000.
• B)The current assets are worth $32,000.
• C)The net income for the period is $32,000.
• D)The owners' equity is $32,000.

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