If the Assets of Martin's Pet Store Are $107,000 and the Owners

question 17

Multiple Choice

If the assets of Martin's Pet Store are $107,000 and the owners' equity is $75,000, which of the following is a true statement?

• A) The owners' investment equals $182,000.
• B) The current assets are worth $32,000.
• C) The new income for the period is $32,000.
• D) The long-term liabilities are $75,000.
• E) The liabilities are $32,000.

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Definitions:

Decision Tree Tools

Analytical tools used in decision-making that use a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility.

Simulation Models

Are computational tools used to imitate the operations of real-world processes or systems for the purpose of analysis or decision-making.

Setup Cost

The expenses associated with configuring or preparing equipment, machinery, or production lines for manufacturing a new product batch or type.

Operate

Operate refers to the process of controlling and managing the functions of systems, machinery, or organizations.