As of June 30, 2022, Actual Tigers Company Has Assets

question 171

Multiple Choice

As of June 30, 2022, Actual Tigers Company has assets of $100,000 and stockholders' equity of $40,000.What are the liabilities for Actual Tigers Company as of June 30, 2022?

• A)$40,000
• B)$60,000
• C)$100,000
• D)$140,000

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Definitions:

Object Permanence

The understanding that objects continue to exist even when they cannot be observed or are out of sight, a concept important in cognitive development.

Conservation of Mass

A principle stating that mass is neither created nor destroyed in a closed system through physical and chemical changes.

Conservation of Volume

The understanding that the quantity of a substance remains the same despite changes in its shape or container.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched, typically developed during early infancy.