Use the Following Information as of December 31 to Determine

question 60

Multiple Choice

Use the following information as of December 31 to determine equity. Cash…………………… 57,000
Buildings........................ 175,000
Equipment…………….. 206,000
Liabilities……………… $141,000

• A) $57,000.
• B) $141,000.
• C) $297,000.
• D) $438,000.
• E) $579,000.

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Definitions:

Commits Fraud

The act of intentionally deceiving someone in order to gain an unauthorized benefit or harm another person.

Fraudulent Information

False information that is knowingly presented as true to deceive or mislead others, often for personal gain or to fulfill certain objectives.

Confidential Information

Sensitive information that is not public knowledge and is protected from being disclosed, often defined in legal agreements.

Third Party

An entity that is not directly involved in a transaction or legal contract but may be affected by it or have interests in its outcome.