The Balances of Select Accounts of Stephanie Company as of December

question 91

Multiple Choice

The balances of select accounts of Stephanie Company as of December 31, 2016 are given below. What amount of total long-term assets would be shown on the balance sheet?

• A) $100,000
• B) $131,500
• C) $132,000
• D) $139,000

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Definitions:

Business-Owner

An individual who legally owns and operates a business, taking on financial risks with the aim of earning profits.

Loyal

Describes a quality of being faithful and devoted to someone or something.

Phrenology

A now-discredited theory that the shape and size of the cranium could determine character and mental abilities.

Greek

A language originating from Greece, notable for its historical significance in literature, philosophy, and science.