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Ennis Worth Has a Six-Month Loan for $7,500 That He

Question 82

Multiple Choice

Ennis Worth has a six-month loan for $7,500 that he used to refurbish the fishing boat he uses to earn his living.This loan is an example of:

A) a current liability
B) owners' equity
C) a long-term liability
D) a current asset
E) a fixed asset

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