You Own a Business That Has Assets of $148,000

question 45

Multiple Choice

You own a business that has assets of $148,000. If your equity is $55,000, what is the amount of your liabilities?

• A) $203,000
• B) $93,000
• C) $122,000
• D) $98,000

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Definitions:

Drinking Culture

A set of traditions and social behaviors that surround the consumption of alcohol in various societies.

Unequal Status

The condition of having differing levels of power, privilege, or social standing among individuals or groups within a society.

Psychologically Addicted

describes a condition where an individual feels a compelling psychological, but not physical, need to continue using a substance or engaging in behavior.

Nutritional Deficiencies

Conditions that arise from the lack of essential nutrients in the diet, leading to various health problems.