If the Balance Sheet Shows $75,000 in Assets and $4,000

question 8

Multiple Choice

If the Balance Sheet shows $75,000 in assets and $4,000 in liabilities, what is the company's equity?

• A)$71,000.
• B)$79,000.
• C)$81,000.
• D)$89,000.
• E)None.

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Definitions:

Revolutionary Era

The period during the late 18th century in which the Thirteen Colonies in North America fought for and gained independence from Britain, creating the United States.

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Key Battleground

is used to describe a crucial area, region, or issue where a significant struggle or competition is taking place.

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Also known as the Know-Nothing Party, a mid-19th-century political party in the United States that was anti-Catholic and nativist.