A Company Reported Total Equity of $145,000 on Its December

question 128

Multiple Choice

A company reported total equity of $145,000 on its December 31,2013,balance sheet.The following information is available for the year ended December 31,2014:
2014 revenues……………..$210,000
2014 expenses……………….165,000
Liabilities,at December 31,2014….92,000
What are the total assets of the company at December 31,2014?

• A) $45,000
• B) $92,000
• C) $190,000
• D) $210,000
• E) $282,000

---

Definitions:

Marginal Utility

Marginal utility refers to the additional satisfaction or benefit one receives from consuming an additional unit of a good or service.

Pepsi

A carbonated soft drink manufactured by PepsiCo, serving as one of the most recognized brands globally in the beverage industry.

Utility Function

A mathematical representation that ranks individuals' preferences for sets of consumption bundles.

Budget Equation

A financial formula that balances income and expenditures, often used in personal finance or government budgeting.