Our Company Has Three Times as Many Assets as It

question 207

Multiple Choice

Our company has three times as many assets as it does liabilities.If total liabilities are $55,000,what is the amount of owners' equity?

• A)$55,000
• B)$110,000
• C)$165,000
• D)$220,000
• E)Owners' equity cannot be determined from the given information.

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Definitions:

Jobs

Positions of employment where individuals are compensated for their labor or services by an employer.

Another Country

A term that can refer to a foreign nation or be used to describe a situation or context that is unfamiliar or markedly different from what is known.

Company's Costs

encompass all expenses involved in running a business, including production, operation, and administration expenses.

Low-Income Families

Families whose income is significantly lower than the average, often making it difficult to meet basic living expenses.