Exhibit 15

question 105

Multiple Choice

Exhibit 1.5.1 The following financial statements are to be used to answer the following questions:

-to Exhibit 1.5-1.What are total long-term assets?

• A) $53,000
• B) $54,000
• C) $107,000
• D) $137,000

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Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered on credit.

Notes Payable

Written agreements in which one party agrees to pay another party a certain sum of money at a future date or on demand.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.

Capital

Financial assets or the resources that businesses use to fund their operations and growth, including cash, properties, and equipment.