Multiple Choice
The resources owned by David's Spa and Salon total $148,000. The total amount of debt that it owes to others is $87,000. Which of the following about David's Spa and Salon is true?
A) Owners' equity is $87,000.
B) Owners' equity is $61,000.
C) Liabilities are $148,000.
D) Liabilities are $61,000.
E) The firm has more owners' equity than liabilities.
Correct Answer:
Verified
Correct Answer:
Verified
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