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The Owner's Equity of Leyla's Company Is Equal to One-Quarter

Question 20

Multiple Choice

The Owner's Equity of Leyla's Company is equal to one-quarter of the total assets. Liabilities equal $30,000. What is the amount of Owner's Equity?

A) $40,000
B) $10,000
C) $30,000
D) None of these answers are correct.

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