Author Question: If the liabilities of a business are 85,000 and the owners' equity is 110,000, which of the ... (Read 53 times)

dmcintosh · **on:** Jul 14, 2018

If the liabilities of a business are 85,000 and the owners' equity is 110,000, which of the following is a true statement?
A) Assets equal 25,000.
B) Assets equal 195,000.
C) Assets equal 110,000.
D) Assets equal 85,000.
E) It is impossible to determine the value of the assets.

Question 2

Sherry, a sales representative, is placed in a group with an engineer from operations, a human resource specialist, and a financial manager, to develop new uses for the company's existing products. The company believes this form of collaboration will lead to increased innovation. This group is a:
A) standing committee.
B) task force.
C) staff support team.
D) cross-functional team.
E) multifaceted work group.