If Total Liabilities Are $3,000 and Total Assets Are $10,000

question 66

Multiple Choice

If total liabilities are $3,000 and total assets are $10,000, owner's equity must be

• A) $7,000.
• B) $3,000.
• C) $10,000.
• D) $13,000.

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Definitions:

Swiss National Bank

The central bank of Switzerland, responsible for the country's monetary policy and issuing its currency.

Implementing Instantaneously

The action of putting into effect or executing a plan or process without any delay.

Effectiveness

The degree to which an action, policy, or method achieves its intended outcome or result.

Predictable Lags

Delays between the implementation of monetary or fiscal policy and the observable effects of such actions on the economy.