At the Beginning of the Year,Execon Company Had Total Assets

question 48

Multiple Choice

At the beginning of the year,Execon Company had total assets of $200,000,total liabilities of $110,000,and shareholders' equity of $90,000.For the year,Execon Company earned net income of $75,000 and declared cash dividends of $30,000.At the end of the year,the company had total assets of $300,000 and its shareholders' equity was at $135,000.At the end of the year,Execon Corporation had total liabilities of:

• A)$0.
• B)$45,000.
• C)$50,000.
• D)$165,000.
• E)None of the answers are correct.

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Definitions:

Flaws In Logic

Errors in reasoning or argumentation leading to invalid conclusions or unsound beliefs.

Inductive Approach

A methodological approach in research and reasoning that moves from specific observations to broader generalizations and theories.

Company Policy

Formal guidelines and rules that govern the operations and acceptable behavior within a business or organization.

Audience Benefit

The advantage or positive outcome that listeners or spectators can gain from engaging with a presentation, performance, or piece of content.