If Assets Are $560 000 and Equity Is $270 000

question 23

Multiple Choice

If assets are $560 000 and equity is $270 000 liabilities must be:

• A)$830 000
• B)$290 000
• C)$560 000
• D)$190 000

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Definitions:

Delaying Gratification

The ability to postpone immediate pleasure or satisfaction in order to achieve a longer-term goal.

Uncertainty Avoidance

A cultural dimension that describes the degree to which people in a society feel uncomfortable with ambiguity and uncertainty.

Ambiguity

The quality of being open to more than one interpretation; lack of definiteness or clarity.

Assertiveness

A communication style characterized by confidently expressing one’s thoughts, feelings, and needs directly and respectfully.