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As of June 30, 2020, Little Giantz Company Has Assets

Question 120

Multiple Choice

As of June 30, 2020, Little Giantz Company has assets of $100,000 and owner's equity of $60,000. What are the liabilities for Little Giantz Company as of June 30, 2020?


A) $40,000
B) $60,000
C) $100,000
D) $160,000

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