Favre Company Has Current Assets, Shareholders' Equity, Current Liabilities, and Long-Term

question 19

Multiple Choice

Favre Company has current assets, shareholders' equity, current liabilities, and long-term liabilities of $20,000, $54,000, $8,000, and $16,000, respectively. How much are long-term assets?

• A)$24,000
• B)$58,000
• C)$64,000
• D)$92,000

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Definitions:

Corporate Bond

A debt security issued by corporations to raise capital, with the promise to pay back the principal along with interest.

Ownership Right

The legal entitlement to use, control, or dispose of property, assets, or resources as the owner sees fit.

Future Profits

The anticipated financial gains that a business expects to earn in future periods from its operations.

Vigilant Investors

Investors who actively monitor and evaluate their investments and market conditions to protect and grow their assets.