If Total Liabilities Are $98,000 and Owner's Equity Is $150,000

question 56

Multiple Choice

If total liabilities are $98,000 and owner's equity is $150,000, total assets would be:

• A)$52,000.
• B)$248,000.
• C)$98,000.
• D)$300,000.

---

Definitions:

Ropy Texture

A geological texture characterized by smooth, undulating surfaces, commonly found in pahoehoe lava flows.

Gas Pressure

The force exerted by gas on the walls of its container or anything it comes into contact with.

Explosive Eruptions

Volcanic eruptions characterized by violent explosions that propel ash, tephra, and volcanic gases into the atmosphere, typically associated with high-viscosity magmas.

Lava Flows

Streams of molten rock that pour or ooze from an erupting vent, cooling and solidifying as they move.