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:

Price Controls

Government-imposed limits on the prices that can be charged for goods and services in a market, aiming to keep prices within a certain range.

Exports

Goods or services sent from one country to another for sale or trade.

Marketing Boards

Organizations that control the supply or pricing of certain agricultural products in various countries.

Developing Nations

Countries with a less developed industrial base and a lower Human Development Index compared to more developed countries.