Total Current Liabilities Are $100,000 and Total Owners' Equity Is

question 72

Multiple Choice

Total current liabilities are $100,000 and total owners' equity is $2,000,000.What are total assets?

• A)We need to know retained earnings before we can compute total assets.
• B)We need more information on long-term liabilities before we can compute total assets.
• C)$2,000,000
• D)$2,100,000

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Definitions:

Test

An examination or procedure done to detect or measure something, often used to diagnose diseases or conditions.

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Abnormal bleeding from the vagina, which can be due to various causes such as injury, infection, or underlying health conditions.

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The process of expelling urine from the bladder through the urethra to the outside of the body; a vital function for the elimination of waste substances.