If Assets Are $300,000 and Liabilities Are $192,000,then Equity Equals

question 205

Multiple Choice

If assets are $300,000 and liabilities are $192,000,then equity equals:

• A)$108,000.
• B)$192,000.
• C)$300,000.
• D)$492,000.
• E)$792,000.

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Definitions:

Trading Practices

The activities and principles involved in buying, selling, and exchanging goods and services, both domestically and internationally.

Beaver Pelts

The skins of beavers, which were highly prized for their fur, playing a central role in the North American fur trade in the 17th and 18th centuries.

European Imports

Goods brought into the Americas or another region from European countries, which could include commodities like textiles, tools, luxury items, or technologies.

Massachusetts Bay

A region in the northeastern United States, centered around the bay that forms the central coastline of the state of Massachusetts, significant for its early colonial history and the founding of Boston.