The Resources Owned by David's Spa and Salon Total $148,000

question 169

Multiple Choice

The resources owned by David's Spa and Salon total $148,000. The total amount of debt that it owes to others is $87,000. Which of the following is correct?

• A)David's owners' equity is $87,000.
• B)The owners' equity in David's is $61,000.
• C)David's liabilities are $148,000.
• D)The firm's liabilities are $61,000.
• E)The firm has more owners' equity than liabilities.

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Definitions:

Psychotic Symptoms

Symptoms indicative of losing touch with reality, including hallucinations, delusions, and disordered thinking, associated with psychosis.

Nicotine

A potent parasympathomimetic stimulant found in tobacco, responsible for causing addiction.

Drug

A substance used to diagnose, cure, treat, or prevent diseases in humans or animals.

Body Physically

Pertains to the physical aspects and the functional capabilities of the body.