I need help!! Please solve theses using formulas and please explain.

Colin listed his assets and liabilities on a personal balance sheet. colin’s balance sheet (august 2013) assets liabilities cash $1,500 credit card $500 stocks $800 rent $800 car $5,000 car loan $1,200 coin collection $1,200 student loan $5,000 total total which statement is true about the total assets and the total liabilities? the total of the assets and the liabilities are the same. the total of the assets is greater than the total of the liabilities. the total of the assets is less than the total of the liabilities. the total of the assets cannot be compared to the total of the liabilities.

With this question! what is process of elimination? ? p.s. my brothers acc got banned so add his new one @ yamauchiyamyam17

Why do interests rates on loans to be lower in a weak economy than in a strong one