If Long-Term Liabilities Are $75,000 and Total Assets Are $525,000

question 92

Multiple Choice

If long-term liabilities are $75,000 and total assets are $525,000, what percentage of total assets are long-term liabilities?

• A) 7 percent
• B) 16.7 percent
• C) 12.5 percent
• D) 14.3 percent

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Definitions:

Teammates

Individuals who are part of the same team, working together towards a common goal.

Identical Twin

Genetic duplicates born from the same fertilized egg, sharing nearly all their DNA.

Biological Parents

The parents who are genetically related to the child, through whose gametes the child was conceived.

Adopted Siblings

Children brought into a family through adoption who are not biologically related but are considered siblings within their adoptive family.