Kal's Vegan Restaurant, with Total Assets of $80,000, Borrows $25,000

question 7

Multiple Choice

Kal's Vegan Restaurant, with total assets of $80,000, borrows $25,000 from the bank. Which of the following is a TRUE statement upon borrowing the money?

• A) Total assets are now $105,000.
• B) Total assets are now $80,000.
• C) Total assets are now $25,000.
• D) Total assets are now $55,000.

---

Definitions:

Lexis

A comprehensive computerized legal research service that provides users with access to a vast database of legal resources, including statutes, case law, and legal journal articles.

Research Tool

Instruments or resources used to gather, identify, and analyze information, often utilized in legal settings to support case preparation or academic study.

Boolean Searching

A technique for searching databases or the internet using specific logical operators (AND, OR, NOT) to refine and focus search results.

Terms and Connector

Search logic used in legal databases that combines keywords with connectors (like AND, OR, NOT) to filter and refine search results.