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Author Question: Clean and Fresh Laundromat has assets of 120,000 and liabilities of 35,000 . Determine the amount of ... (Read 72 times)

Beheh

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on: Jul 6, 2018
Clean and Fresh Laundromat has assets of 120,000 and liabilities of 35,000 . Determine the amount of owner's equity.
 a. 42,500
  b. 155,000
  c. 85,000
  d. None of the answers listed

Question 2

Financial ratios represent effects, not causes.
 
  Indicate whether the statement is true or false


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zacnyjessica

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Reply #1 on: Jul 6, 2018
Answer to Question 1

C

Answer to Question 2

TRUE
Explanation: Financial ratios represent effects, not causes. Looking beyond the mechanical application of a ratio to its root cause is a critical component of financial statements analysis.


Beheh

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Reply #2 on: Jul 6, 2018
Thank you


zacnyjessica

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Reply #3 on: Jul 6, 2018
No problemo


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