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 must have invested $720,000 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
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