Ennis Worth has a six-month loan for $7,500 that he used to refurbish the fishing boat he uses to earn his living.This loan is an example of:
A) a current liability
B) owners' equity
C) a long-term liability
D) a current asset
E) a fixed asset
Correct Answer:
Verified
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A)assets
B)liabilities
C)net worth
D)gross
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