Little Tots' Liabilities Are $130,000, and Its Owners' Equity Is

question 165

Multiple Choice

Little Tots' liabilities are $130,000, and its owners' equity is $170,000. What do we also know about Little Tots?

• A) Its total assets are $300,000.
• B) Its net income for the current year was $300,000.
• C) Its net cash flow for the current year was $40,000.
• D) Its net income is $40,000.

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Definitions:

Pulmonary Function Test

Medical tests that measure the lungs' ability to take in and exhale air as well as their efficiency in transferring oxygen into the blood.

Auscultation

The act of listening to the sounds made by internal organs, typically with a stethoscope, as part of a medical examination.

Palpation

The act of using one's hands to examine the body, especially while perceiving/diagnosing a disease or illness.

Inspection

The act of examining something closely, often for quality, safety, or compliance purposes.