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If a Company Has Stockholders' Equity of $60,000 at the End

Question 86

Multiple Choice

If a company has stockholders' equity of $60,000 at the end of the year,which of the following statements must be true?

A) The company's assets exceed liabilities by $60,000.
B) The company has issued $60,000 of common stock.
C) Net income for the year equals $60,000.

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