If total assets equal $345,000 and total equity equal $120,000, then total liabilities must equal:
A) $465,000.
B) $225,000.
C) Can not be determined from the information given.
D) Some other amount.

Name: If total assets equal $345,000 and total equity equal $120,000, then total liabilities must equal: A) $465,000. B) $225,000. C) Can not be determined from the information given. D) Some other amount.
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Question

Quizplus · Accepted Answer

Total assets - total equity = total liabilities 
$345,000 - $120,000 = $225,000

If Total Assets Equal $345,000 and Total Equity Equal $120,000