As of June 30, 2011, Dallas Company Has Assets of $120,000

question 206

Multiple Choice

As of June 30, 2011, Dallas Company has assets of $120,000 and equity of $10,000.What are the liabilities for Dallas Company as of June 30, 2011?

• A)$130,000
• B)$100,000
• C)$110,000
• D)$120,000

---

Definitions:

Sex Tourism

Travel undertaken with the motive of engaging in sexual activity, often commercial, in a destination where such activities are more accessible or permissible.

Traveling

The act of moving from one place to another, which can be for various purposes such as exploration, leisure, or business.

Queer Theory

An academic field that challenges the traditional, binary categorization of gender and sexuality, emphasizing the fluidity of sexual identity and questioning social norms.

Sexual Identity

Refers to how individuals perceive themselves and what they call themselves in terms of their sexuality.