If During the Year Total Assets Increase by $75,000 and Total

question 1

Multiple Choice

If during the year total assets increase by $75,000 and total liabilities decrease by $16,000,by how much did owner's equity increase/decrease?

• A) $91,000 increase
• B) $59,000 decrease
• C) $91,000 decrease
• D) $75,000 increase

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Definitions:

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