If the Assets of a Business Increased $89,000 During a Period

question 50

Multiple Choice

If the assets of a business increased $89,000 during a period of time and its liabilities increased $67,000 during the same period, equity in the business must have:

• A) Increased $22,000.
• B) Decreased $22,000.
• C) Increased $89,000.
• D) Decreased $156,000.
• E) Increased $156,000.

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Definitions:

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The process of interpreting codes generated by a vehicle's computer, indicating specific malfunctions or operational issues.

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A lubricating and cooling fluid used in vehicle transmission systems to ensure smooth gear shifts and operation.

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The process of officially recognizing technicians as qualified professionals in their field after they meet certain criteria or pass specific exams.

ASE

Stands for the National Institute for Automotive Service Excellence, an organization that certifies automotive professionals and shops.