A Corporation Has $80,000 in Total Assets,$36,000 in Total Liabilities,and

question 136

Multiple Choice

A corporation has $80,000 in total assets,$36,000 in total liabilities,and a $12,000 credit balance in retained earnings.What is the balance in the contributed capital accounts?

• A)$56,000.
• B)$44,000.
• C)$48,000.
• D)$32,000.

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Definitions:

Initiative

The ability to assess and initiate things independently, often leading to action or the undertaking of new projects.

Precarious

A state of insecurity or instability, particularly referring to employment or living situations that are uncertain, unpredictable, and risky.

Military

Armed forces of a country, tasked with defense and protection duties, also involved in peacekeeping and humanitarian missions globally.

Formal

Pertaining to or following established customs, rules, ceremonies, or styles, often in official contexts.