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You then borrow 10,000 from a bank. Your total assets become:
A20,000
B10,000
C30,000
D15,000
Answer & Solution
Correct answer: A. 20,000
1. Cash of 10,000 was already there.
2. The loan brings 10,000 more.
3. Total assets are 20,000.
_Source: OpenStax Introduction to Business, Chapter 14, Using Financial Information and Accounting._
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