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Kal's Vegan Restaurant, with Total Assets of $80,000, Borrows $25,000

Question 7

Multiple Choice

Kal's Vegan Restaurant, with total assets of $80,000, borrows $25,000 from the bank. Which of the following is a TRUE statement upon borrowing the money?


A) Total assets are now $105,000.
B) Total assets are now $80,000.
C) Total assets are now $25,000.
D) Total assets are now $55,000.

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