If Equity Is $300,000 and Liabilities Are $192,000, Then Assets

question 81

Multiple Choice

If equity is $300,000 and liabilities are $192,000, then assets equal:

• A) $108,000.
• B) $192,000.
• C) $300,000.
• D) $492,000.
• E) $792,000.

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Definitions:

Variable

An element, feature, or factor that is liable to vary or change.

Fixed

Pertains to expenses that remain constant for a given period regardless of the level of production or business activity.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor.

Estimated

An approximation or informed guess of a value, quantity, or outcome based on available data.