a. Total assets of Charter Company equal $710,000 and its equity is $425,000. What is the amount of its liabilities

the amount of its liabilities is $285,000

Explanation:

From the Accounting Equation, we know that :

Assets - Liabilities = Equity

Therefore,

Liabilities = Assets - Equity

                = $710,000  - $425,000

                = $285,000

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- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

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- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

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