Question

100 POINTS PLEASE HELP A business buys equipment with $150 cash and puts $425 on credit. What is the value of this asset?

A. $275
C. $575
B. $150
D. $425

Answer 1

The correct answer is C. $575. The business bought equipment with $150 cash and put $425 on credit, so the total value of the asset is $575 ($150 + $425).