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.

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Definitions:

Cousins

The children of one's aunt or uncle, considered one degree of consanguinity removed from oneself.

Maturation

The process of becoming mature; involves biological, psychological, or emotional changes that occur in human beings between birth and the end of adolescence.

Puberty

The developmental stage marking the onset of sexual maturity and the ability to reproduce, accompanied by physical and hormonal changes.

Genetic Influences

The contribution of genes inherited from parents to the physical and behavioral characteristics of an individual.