The Resources Owned by David's Spa and Salon Total $148,000

question 17

Multiple Choice

The resources owned by David's Spa and Salon total $148,000. The total amount of debt that it owes to others is $87,000. Which of the following describes David's Spa and Salon?

• A) owners' equity is $61,000
• B) liabilities are $148,000
• C) liabilities are $61,000
• D) owners' equity is $235,000

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Definitions:

Voluntarily Grasp

The intentional action of closing the hand and holding onto something, seen as an important motor skill development in infants.

Developmental Lag

A delay in reaching specific developmental milestones compared to the average timeline for those milestones.

Neurologic Disorder

A disorder affecting the nervous system, including the brain, spinal cord, and nerves, leading to a range of symptoms.

Cerebral Palsy

A group of permanent movement disorders that appear in early childhood, affecting muscle tone, posture, and movement.