An Entity's Owners' Equity Is One-Third of Its Total Assets

question 27

Multiple Choice

An entity's owners' equity is one-third of its total assets. Its liabilities total $100 000. What is the amount of its total assets?

• A) $100 000
• B) $150 000
• C) $200 000
• D) $300 000

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Definitions:

High-Income Economies

Countries with a gross national income per capita above a certain threshold, indicating a high level of economic prosperity.

Low-Income Economies

Economies characterized by their citizens earning significantly lower incomes on average, often measured by gross national income thresholds set by international institutions.

Economic Growth

is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.

19th Century

the period from January 1, 1801, to December 31, 1900, marked by significant industrial, social, and political changes worldwide.