You Are Considering Buying a Business That Has Assets of $148,000

question 90

Multiple Choice

You are considering buying a business that has assets of $148,000. Owner's equity is shown as $45,000. What is the amount of liabilities in that business?

• A) $103,000
• B) $93,000
• C) $112,000
• D) $108,000

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Definitions:

Prices

The amount of money or exchange value that is asked for goods and services in the market.

Monthly Income

The total amount of income received on a monthly basis from all sources including wages, salaries, benefits, and investments.

Hot Dog

A cooked sausage, traditionally grilled or steamed and served in a sliced bun as a fast-food.

Price

The quantity of cash forecasted, demanded, or paid in return for an item.