A Company Has Twice as Much Owner's Equity as It

question 5

Multiple Choice

A company has twice as much owner's equity as it does liabilities.If total liabilities are $50,000,what amount of assets are owned by the company?

• A)$50,000
• B)$100,000
• C)$150,000
• D)$200,000
• E)Assets cannot be determined from the given information.

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Definitions:

Machinery

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Petroleum

A naturally occurring liquid found beneath the Earth's surface that can be refined into fuel and various chemical products.

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The value of the best alternative that must be sacrificed in order to pursue a certain action.

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Two-wheeled vehicles powered by an engine, often used for both everyday transport and recreational activities.