Suppose a Local Catering Company Owes $15,000 on a Van

question 58

Multiple Choice

Suppose a local catering company owes $15,000 on a van it uses for deliveries. The owner's equity is $72,000. What must the value be of the company's owner's equity?

• A) $75,000
• B) $87,000
• C) $57,000
• D) $43,000

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Definitions:

Academic Pursuit

The active engagement in educational activities with the aim of gaining knowledge, skills, and qualifications.

Behaviorism

A theory of learning based on the idea that all behaviors are acquired through conditioning by interacting with the environment.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, encouraging the subject to associate certain actions with specific consequences.

Observation

The act of closely monitoring or taking notice of something or someone, often used as a method in scientific research and daily learning.