Accounting

A firm has $200,000 in total assets and $120,000 in owner's equity. What are the total liabilities?
A. $80,000
B. $200,000
C. $320,000
D. Cannot be determined from the information given
A

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  1. Assets = Liabilities + Shareholders' Equity

    Liabilities=assests-equity
    you are correct.

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