Total Liabilities Are $100,000 and Total Owners' Equity Is $200,000

question 20

Multiple Choice

Total liabilities are $100,000 and total owners' equity is $200,000.What are total assets?

• A)We need to know retained earnings before we can compute total assets.
• B)We need more information on current and long-term assets before we can compute total assets.
• C)$100,000
• D)$300,000

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