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    Fundamental Accounting Principles Study Set 5
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    Exam 1: Accounting in Business
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    If Assets Are $99,000 and Liabilities Are $32,000, Then Equity
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If Assets Are $99,000 and Liabilities Are $32,000, Then Equity

Question 20

Question 20

Multiple Choice

If assets are $99,000 and liabilities are $32,000, then equity equals:


A) $32,000.
B) $67,000.
C) $99,000.
D) $131,000.
E) $198,000.

Correct Answer:

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