On December 31, the Assets of a Business Are: Cash

question 40

Multiple Choice

On December 31, the assets of a business are: Cash, $3,500, Accounts Receivable, $14,000, and Supplies, $1,050. The liabilities on December 31 total $7,600. The owner's equity on December 31 is:

• A)$18,550.
• B)$25,100.
• C)$10,950.
• D)$11,100.

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Definitions:

Contraction of The Pupils

A physiological response where the pupils decrease in size, typically in response to increased light exposure or during focus on near objects.

Empathy

The skill of recognizing and sympathizing with another person's feelings.

Facial Feedback Effect

The hypothesis that facial movement can influence emotional experience, suggesting that the act of smiling can make one feel happier.

Behavior Feedback Effect

The Behavior Feedback Effect describes how the outcomes of behaviors can influence an individual's future attitudes and actions, creating a feedback loop.