If the Assets of a Company Increase by $55,000 During

question 78

Multiple Choice

If the assets of a company increase by $55,000 during the year and its liabilities increase by $25,000 during the same year,then the change in equity of the company during the year must have been:

• A)An increase of $80,000.
• B)A decrease of $80,000.
• C)An increase of $30,000.
• D)A decrease of $30,000.
• E)An increase of $25,000.

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Definitions:

Employee Benefits

Non-wage compensation provided to employees in addition to their regular salaries or wages.

Increasing Cost

A situation where the price of goods or services rises over time, affecting consumer behavior and economic strategies.

Payroll Inserts

Documents or messages included with employee paychecks, commonly used to communicate organizational news, policies, or updates.

Isolated Areas

Regions or locations that are geographically distant from major population centers or hard to access due to limited transportation or infrastructure.