If the Liabilities of a Business Are $85,000 and the Owners

question 19

Multiple Choice

If the liabilities of a business are $85,000 and the owners' equity is $110,000, which of the following statements is correct?

• A) assets equal $25,000
• B) assets equal $195,000
• C) assets equal $110,000
• D) assets equal $85,000

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Definitions:

Hardwired

Hardwired refers to traits, behaviors, or responses that are innate or biologically pre-programmed in individuals.

Social Status

A person's standing or importance in society as perceived by others, often influenced by factors like wealth, occupation, and education.

Material Resources

Physical items, assets, or commodities that are used to produce goods and services or fulfill organizational objectives.

Fight-Or-Flight

A physiological response to perceived harmful events, attacks, or threats to survival, where an individual either confronts the stressor or avoids it.