The Following Accounts Are Taken from the December 31,Year 4

question 139

Multiple Choice

The following accounts are taken from the December 31,Year 4 financial statements of a company. What is the amount of total liabilities at the end of Year?

• A)$7,075.
• B)$10,075.
• C)$9,075.
• D)$12,975.

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Definitions:

Working Capital Management

The managing of short-term assets and liabilities.

Current Assets

Assets that are used or converted into cash within the course of a calendar year.

Financial Managers

Those who focus on obtaining needed funds for the successful operation of an organization and using those funds to further organizational goals.