问题如下：
Given the balance sheet as of 31 December 2017 is as following, Jacques believes an asset-based valuation is appropriate for Wood. Based on with the additional assumption that other assets and liabilities on the balance sheet, Using an asset-based approach, the value of Wood is closest to：
选项：
A.$29,876,000
B.$67,112,000
C.$48,414,000
解释：
C is correct.
考点：Asset-based valuation
解析：C是正确的。除林地以外，其他资产都以账面值来计。因此，所有资产价值等于 5100.2万美元。负债被认为价值等于其账面价值258.8万美元。因此，Asset-based valuation估计价值=总资产-总负债= 48,414,000美元。
正好在这里问下，算EV的时候资产项扣掉现金和现金等价物，负债项扣掉什么来着？？ 是short term liability（account payable）吗? 谢谢。
