Colin listed his assets and liabilities on a personal balance sheet. Colin’s Balance Sheet (August 2013)AssetsLiabilitiescash$1,500credit card$500stocks$800rent$800car$5,000car loan$1,200coin collection$1,200student loan$5,000Total Total Which statement is true about the total assets and the total liabilities?
A
The total of the assets and the liabilities are the same.B
The total of the assets is greater than the total of the liabilities.C
The total of the assets is less than the total of the liabilities.D
The total of the assets cannot be compared to the total of the liabilities.