Tom and Lynn Get Together and Start a Mortgage Brokerage

question 150

Multiple Choice

Tom and Lynn get together and start a mortgage brokerage business.They each contribute $25,000 of capital to the business.After the first year of operation,the total owners' equity is listed as $60,000.Most likely,the additional $10,000 of owners' equity is

• A) common stock.
• B) long-term liabilities.
• C) current liabilities.
• D) retained earnings.
• E) a bank loan.

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Definitions:

Biological Systems

Complex networks of biologically relevant entities such as cells, organisms, or ecosystems that function through systematic interactions.

Interact

To act in such a manner as to have an effect on another; in biology, it often refers to the way biological entities, such as molecules or organisms, affect each other.

Interdependent

The reciprocal relationship between entities where each depends on the other, leading to a situation where their interactions significantly influence their viability or functionality.

Systems Biology

A field of biology that synthesizes knowledge of many small parts to understand the whole. Also referred to as integrative biology or integrative systems biology.