Multiple Choice
A company reported total equity of $145,000 at the beginning of the year. The company reported $210,000 in revenues and $165,000 in expenses for the year. Liabilities at the end of the year totaled $92,000. What are the total assets of the company at the end of the year?
A) $92,000.
B) $45,000.
C) $282,000.
D) $98,000.
E) $210,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q157: If equity is $300,000 and liabilities are
Q158: The income statement reports all of the
Q159: The financial statement that reports whether the
Q160: There are three major types of business
Q161: The Securities and Exchange Commission (SEC) is
Q163: Match the following terms with the appropriate
Q164: Use the following information as of
Q165: All of the following are classified as
Q166: If the liabilities of a company increased
Q167: _ explains changes in the owner's claim