Martin's Spa and Salon's assets total $148,000. The total amount of debt that it owes to others is $87,000. Which of the following is correct?
A. David's owners' equity is $87,000.
B. The owners' equity in David's is $61,000.
C. David's liabilities are $148,000.
D. The firm's liabilities are $61,000.
E. The firm has more owners' equity than liabilities.
Answer: B
You might also like to view...
______________________________ segregates duties between the personnel who create the customer record and the personnel who create the sales order
Fill in the blank(s) with correct word
A company's overall ability to execute is a function of effectively executing according to three processes, but Bossidy and Charan believe that the _____ process is the most important.
A. operations B. leading C. people D. planning E. strategy
How do the different types of publics influence a company's marketing environment?
What will be an ideal response?
Which is a trend that indicates that the service desk has been elevated to a profession in and of itself?
A. Service desk managers typically manage the service desk staff and the staff in level 2 and level 3 support groups. B. Many companies have rewritten service desk analyst job descriptions to create higher-level positions. C. An increasing number of level 2 and level 3 staff, especially software developers, are applying to work on the service desk. D. Companies are relying on one level of management and one level of analysts to streamline job functions.