A Firm Has $260,000 in Assets and $158,000 in Stockholders

question 115

Multiple Choice

A firm has $260,000 in assets and $158,000 in stockholders' equity. It owes $55,000 from a long-term loan, and this is its only long-term liability. This firm has ____ in total current liabilities.

• A) $55,000
• B) $103,000
• C) $47,000
• D) $102,000
• E) $213,000

---

Definitions:

Heteronormativity

The belief in and structuring of society around the idea that heterosexuality is the only normal and natural orientation for sexual and romantic relationships.

Agents of Socialization

The individuals, groups, or institutions that teach society's norms and roles and thus influence how individuals perceive and react to the world.

Two-spirit People

A term used by some Indigenous North American cultures to describe a person who embodies both masculine and feminine qualities.

Social Construction

A concept or perception of something that is based on the collective agreement and interpretation of individuals within a society.