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How much is the ending total assets

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Problem 1: A business has total assets, liabilities, and equity of ?10,000, ?7,000 and ?3,000, respectively, at the beginning of the period. During the period, total liabilities decreased to ?4,000 while profit was ?5,000. How much is the ending total assets?

Option 1: 12,000

Option 2: 11,000

Option 3: 9,000

Option 4: 7,000

Reference no: EM132828096

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