The Amount of Total Liabilities That Would Appear on Ramon's

question 71

Multiple Choice

The amount of total liabilities that would appear on Ramon's December 31 balance sheets for 2013 and 2014 would be

• A)$18,945; $0.
• B)$18,000; $0.
• C)$18,945; $19,260.
• D)$945; $315.

---

Definitions:

Combinations Of Output

Various possible quantities of different goods that can be produced or provided given certain resources and technology.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than another.

Opportunity Cost

The worth of the best alternative that is given up to make a decision.

Calculations

The process of determining the result of mathematical or logical operations or expressions.