... assets and of paying off the liabilities at December 31 91 Free Test Bank for Financial and Managerial Accounting The Basis for Business Decisions 17th Edition Williams Multiple Choice Questions - ... $25,000, then the total assets of Gordon, Inc at December 31, 2014 amount to: A $27,500 B $152,500 C $120,000 D $165,000 91 Free Test Bank for Financial and Managerial Accounting The Basis for Business ... objective, rather than subjective, information as the basis for accounting information C The safety principle - assets are valued at no more than the value for which they are insured D The going-concern...