If Non-Current Assets Are £250,000,current Assets £70,000,long-Term Borrowing £50,000 and Current

question 20

Multiple Choice

If non-current assets are £250,000,current assets £70,000,long-term borrowing £50,000 and current liabilities £10,000 ,what is the value of owner's equity?

• A) £240,000
• B) £260,000
• C) £120,000
• D) £270,000

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Definitions:

Biases

Cognitive shortcuts or predispositions that can influence decision-making processes and perceptions, often leading to irrational or unfair outcomes.

Smart People

Individuals who exhibit high levels of intelligence, creativity, and capacity for complex problem-solving.

Framing

The act of constructing or presenting a concept, issue, or situation in a specific way to influence perception.

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.