Chase starts a new auto detailing business. He obtains a loan for ...

[lak]

Chase starts a new auto detailing business. He obtains a loan for 10,000 and uses the funds to build a small workshop in his backyard and to buy tools and supplies. At this point, his assets are _____, liabilities are _____, and owners' equity is _____.
 A) 10,000; 5000; 15,000
  B) 10,000; 10,000; 0
  C) 5000; 0; 5000
  D) 15,000; 10,000; 0
  E) 10,000; 5000; 5000

Question 2

A restaurant wait staff that reports to a floor manager who reports to the restaurant manager is a clear example of a(n) _____ organizational structure.
 A) matrix
  B) line
  C) line-and-staff
  D) informal
  E) network

[Andromeda18]

Answer to Question 1

B

Answer to Question 2

B

[lak]

Excellent

[komodo7]

TYSM