Which statement is true:
a. Total liabilities to total assets ratio <50 percent indicates that a firm is relying more on borrowed money than owners' equity.
b. Total liabilities to total assets ratio > 60 percent indicates that a firm is relying more on borrowed money than owners' equity.
c. Total liabilities to total assets ratio <60 percent indicates that a firm is relying more on borrowed money than owners' equity.
d. Total liabilities to total assets ratio > 50 percent indicates that a firm is relying more on borrowed money than owners' equity.
Answer: D
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