Patrick Guitman Has a Net Worth of $165,000 and Liabilities

question 72

Multiple Choice

Patrick Guitman has a net worth of $165,000 and liabilities of $176,000.What are his total assets?

• A) $11,000
• B) $-165,000
• C) $176,000
• D) $187,000
• E) $341,000

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Definitions:

Direct Manufacturing Cost

Expenses directly related to the production of goods, including raw materials and labor directly involved in manufacturing.

Units Produced

The total number of complete units of product or outputs produced by a company or production process.

Direct Costs

Costs that can be directly traced to producing specific goods or services, such as raw materials and labor.

Cosmetics Department

A specialized division or section within a store or company focused on the sale and promotion of beauty products.