Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} & 5,000 ...
Question 1 Report
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} & 5,000 \\ \text{Current liabilities} & 2,300 \\ Capital & 10,000 \\ \text{Long term liabilities} & 4,700\end{array}\)
Total liabilities amount to
\(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} & 5,000 \\ \text{Current liabilities} & 2,300 \\ Capital & 10,000 \\ \text{Long term liabilities} & 4,700\end{array}\)
Total liabilities amount to
Answer Details
To find the total liabilities, we need to add the current liabilities and the long-term liabilities.
Current liabilities = N2,300
Long-term liabilities = N4,700
Total liabilities = Current liabilities + Long-term liabilities
Total liabilities = N2,300 + N4,700
Total liabilities = N7,000
Therefore, the correct answer is N7,000.
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