If Beringer Company's Liabilities Are $18,000 and Its Owner's Equity

question 119

Multiple Choice

If Beringer Company's liabilities are $18,000 and its owner's equity is $12,000, the company's assets total

• A) $6,000.
• B) $30,000.
• C) $18,000.
• D) $12,000.

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Definitions:

Single Line

A straight line that has no bends or curves.

Numeric Amount

A figure or value expressed in numbers, representing quantity or magnitude.

Electronic Check

A digital version or representation of a paper check, used to make electronic payments directly from a checking account.

Checking Account

A bank account that allows the account holder to withdraw funds, write checks, and make electronic transactions.