At the End of the Current Year, the Equity in Barclay

question 114

Multiple Choice

At the end of the current year, the equity in Barclay Bakery is $246,000. During the year the assets of the business had increased by $120,000, and the liabilities had increased by $72,000. Equity at the beginning of the year must have been:

• A) $198,000.
• B) $174,000.
• C) $284,000.
• D) $438,000.

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Definitions:

Symmetrical

In statistics, it describes a situation where the data distribution is evenly spread around the mean, having a balanced shape on either side.

Normal Curve

A bell-shaped curve that represents the distribution of many types of data where most values cluster around a mean.

Z Score

A numerical indicator showing how a specific value compares to the average of a set of values, given as the number of standard deviations away from that average.

Distributions

Statistical data arrangements showing the frequencies of potential outcomes or occurrences.