If the Liabilities of a Business Are $85,000 and the Owners

question 191

Multiple Choice

If the liabilities of a business are $85,000 and the owners' equity is $110,000,which of the following is a correct statement?

• A) Assets equal $25,000.
• B) Assets equal $195,000.
• C) Assets equal $110,000.
• D) Assets equal $85,000.
• E) It is impossible to determine the value of the assets.

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Definitions:

Redefinition of Self

The process in which an individual undergoes a transformation or shift in their identity or self-perception.

Robert Peck

A psychologist known for his work on adult development and aging, particularly for expanding on Erik Erikson's stages of psychosocial development.

Initiative-versus-guilt

Initiative versus guilt is one of Erik Erikson's stages of psychosocial development, where children assert themselves more frequently through directing play and other social interactions, but may feel guilt when they fail or if their efforts are condemned.

Psychosocial Development

A theory proposed by Erik Erikson that human development occurs in eight stages from infancy to adulthood, with each stage presenting a unique challenge that must be overcome.