You Have a Current Balance Sheet with Liabilities of $50,000

question 50

Multiple Choice

You have a current balance sheet with liabilities of $50,000 and assets of $75,000. You estimate that you will have to purchase a new vehicle next year for $20,000. You believe you will be able to pay 20% down and can finance the remainder through your bank. If nothing else changes, your pro forma balance sheet will show assets of and liabilities of .

• A) $95,000; $66,000
• B) $95,000; $70,000
• C) $91,000; $66,000
• D) $91,000; $54,000

---

Definitions:

Body Piercing

The practice of puncturing or cutting a part of the human body, creating an opening in which jewelry may be worn as a form of body modification.

Suicide

The act of intentionally causing one's own death, often associated with factors such as mental illness, trauma, and severe stress.

Ego Identity

In psychology, it is the sense of oneself as a distinct, continuous entity with a set of beliefs, affiliations, and values.

Foreclosure

In terms of identity formation, it refers to committing to an identity without exploring other options. Separately, it also describes the legal process where a lender takes possession of property due to the borrower's failure to make mortgage payments.