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.

---

Definitions:

Stem-and-Leaf Display

A method of displaying quantitative data to show its distribution by dividing each value into a "stem" (the leading digits) and a "leaf" (the last digit).

Diastolic Blood Pressures

The pressure in the arteries when the heart rests between beats, indicative of cardiovascular health and used in diagnosing hypertension.

Mm Hg

Millimeters of mercury; a unit of pressure commonly used in medicine and meteorology to measure blood pressure and atmospheric pressure, respectively.

Uniform

Characterized by being the same in all situations, without variation or diversity in detail or condition.