Multiple Choice
Little Tots' liabilities are $130,000, and its owners' equity is $170,000. What do we also know about Little Tots?
A) Its total assets are $300,000.
B) Its net income for the current year was $300,000.
C) Its net cash flow for the current year was $40,000.
D) Its net income is $40,000.
Correct Answer:
Verified
Correct Answer:
Verified
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