Bing Company Has Total Liabilities of $10,000 and Total Assets

question 119

Multiple Choice

Bing Company has total liabilities of $10,000 and total assets of $15,000. Based on this information, Bing Company's owner's equity must be

• A) $10,000.
• B) $ 0.
• C) $5,000.
• D) $15,000.

---

Definitions:

Autism Spectrum Disorder

The best known of the pervasive developmental disorders. Autistic children exhibit a lack of social responsiveness or extreme autistic aloneness; very limited or unusual communication patterns; unusual patterns of behaviour such as a lack of eye contact; self-stimulation, including rocking, spinning, or flapping; self-injury, including head-banging or hand-biting; an obsessive interest in particular objects; and an obsessive need for sameness. From the Greek autos, “self.”

Leo Kanner

An Austrian-American psychiatrist known for his work in autism research and for first describing autism as a neurodevelopmental disorder.

Childhood Disorder

A wide range of psychological, developmental, and emotional disorders that affect children and adolescents.

Down Syndrome

A genetic disorder caused by the presence of an extra chromosome 21, associated with physical growth delays, characteristic facial features, and mild to moderate intellectual disability.