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If the creditor's financial claim to property totals $1,0 and the owner's financial claim to property totals $11,0, the property value is _.

a. $10,0 b. $11,0 c. $12,0 d. $1,0

Accounting Fixed Assets Finance
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Question added by خالد ابراهيم , Senior Accountant , Al Khayyat Group /Peugeot and Mazda Automative agent in Jordan
Date Posted: 2013/11/10
Upvote (2) Views (12) Followers (1) Answers (5) Report Question
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Deleted user
by Deleted user

answer is : $12.0

Khalid Noor
by Khalid Noor , Accounting Manager , FedEx

12,0

Asset = Equit + liability

Deleted user
by Deleted user

11+1=12 in an ideal senario

Saad Kapadia FCA - CIA - CFE - CISA - CRMA-FMVA
by Saad Kapadia FCA - CIA - CFE - CISA - CRMA-FMVA , Head Of Internal Audit , Cenomi Centers

I would also go for (c)1$2.0 

Rahul Sharma
by Rahul Sharma , Manager Finance and Accounts , Gemini Impex General Trading LLC

THe answer would Be12

As cost of asset is always a sum of owner equity and liablilities and here in this scenario Owners claim is11 and creditors liability is1 so answer would be12

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