Sonny and Cher have a net worth of $35,000 and total assets of $200,000.If their revolving credit and unpaid bills total $2,200,what are their long-term liabilities?
A) $115,000
B) $140,000
C) $142,200
D) $162,800
E) $165,000
Correct Answer:
Verified
Q71: The income and expense statement examines your
Q72: Another term sometimes used instead of net
Q73: Sam and his wife Ann purchased a
Q74: The main purpose of a budget is
Q75: When Phil lists his house on his
Q77: A budget is a
A)purchase plan.
B)line of credit.
C)financial
Q78: You are solvent if your
A)total liabilities exceed
Q79: Budgets are
A)restrictive.
B)complicated.
C)forward looking.
D)permanent.
E)retrospective.
Q80: On the personal balance sheet,a mortgage loan
Q81: Russ buys his wife a valuable painting
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents