Multiple Choice
Which of the following is correct if at the end of Crystal Imports' first year of operations,Assets are $800,000 and Owners' Equity is $720,000?
A) The owner(s) must have invested $800,000 to start the business.
B) The business must be operating profitably.
C) Liabilities are $80,000.
D) Liabilities are $1,520,000.
Correct Answer:
Verified
Correct Answer:
Verified
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