If Total Liabilities Decreased by $14,000 During a Period of Time

question 3

Multiple Choice

If total liabilities decreased by $14,000 during a period of time and shareholders' equity increased by $6,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total assets is a(n)

• A) $14,000 increase.
• B) $20,000 increase.
• C) $8,000 decrease.
• D) $8,000 increase.

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Definitions:

Standing Army

A permanent, professional army maintained during both war and peace times.

Democratic Debate

A structured discussion in the context of a democracy where candidates or parties present their views on various issues to inform voters and gain support.

Truman Doctrine

A United States foreign policy established in 1947 to counter Soviet geopolitical expansion during the Cold War through economic and military aid to countries resisting communism.

Containment

A foreign policy strategy aimed at stopping the expansion of an enemy or ideology, particularly communism during the Cold War.