Sawaddee Enterprises Began the Year with Total Assets of $450,000

question 122

Multiple Choice

Sawaddee Enterprises began the year with total assets of $450,000 and total liabilities of $230,000.If Sawaddee total liabilities increased by $31,000 and its owners' equity decreased by $53,000 during the year, what was the amount of its total assets at the end of the year?

• A) $472,000
• B) $242,000
• C) $198,000
• D) $428,000

---

Definitions:

Good Faith

Describes an honest intent to act without taking an unfair advantage over another party in a transaction, embodying sincerity, honesty, and faithfulness.

Duty Imposed

An obligation, often a tax or levy, legally enforced by a government on goods, activities, or transactions.

Emotional Intelligence

The ability to recognize, understand, and manage our own emotions as well as the emotions of others, crucial for effective communication and leadership.

Technical Knowledge

Expertise and understanding related to a specific field or technology, often requiring specialized training or education.