If the Liabilities of a Company Increased $74,000 During a Period

question 52

Multiple Choice

If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period,what was the effect on the assets?

• A)Assets would have increased $55,000.
• B)Assets would have decreased $55,000.
• C)Assets would have increased $19,000.
• D)Assets would have decreased $19,000.
• E)None of thesE.Assets = Liabilities + Owner's Equity

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Definitions:

Mental Attitudes

The psychological state of mind or disposition towards certain ideas, objects, or people, which influences behavior and perception.

Self-defeating Behavior

Activities or attitudes that work against one’s best interest.

Life Script

A psychological concept that points to a series of subconscious instructions we follow, shaped by our experiences and the expectations of society.

Self-defeating Behavior

Actions or behaviors that undermine one's own goals or desires, often leading to negative outcomes or failure.