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You open a shop with 10,000 in cash and no debt. Owners' equity at that moment is:
A20,000
B15,000
C25,000
D10,000
Answer & Solution
Correct answer: D. 10,000
1. Assets are 10,000.
2. Liabilities are zero.
3. Owners' equity is 10,000.
_Source: OpenStax Introduction to Business, Chapter 14, Using Financial Information and Accounting._
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