If equity is $300,000 and liabilities are $192,000, then assets equal:
A) $108,000.
B) $192,000.
C) $300,000.
D) $492,000.
E) $792,000.

Name: If equity is $300,000 and liabilities are $192,000, then assets equal: A) $108,000. B) $192,000. C) $300,000. D) $492,000. E) $792,000.
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Question

Quizplus · Accepted Answer

The formula for calculating assets is:

Assets = Equity + Liabilities

Substituting the values given in the question:

Assets = $300,000 + $192,000

Assets = $492,000

Therefore, the answer is D) $492,000.

If Equity Is $300,000 and Liabilities Are $192,000, Then Assets