If Total Liabilities Decreased by $30,000 and Stockholders' Equity Increased

question 74

Multiple Choice

If total liabilities decreased by $30,000 and stockholders' equity increased by $20,000 during a period of time, then total assets must change by what amount and direction during that same period?

• A) $50,000 decrease
• B) $10,000 decrease
• C) $10,000 increase
• D) $50,000 increase

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Definitions:

Divisions

Separate sections or branches of an organization, each responsible for specific operations or functions within the larger entity.

American Society For Quality

An organization dedicated to promoting and advancing quality tools, principles, and practices in workplaces and communities around the world.

ISO 9000

A set of quality standards developed by the International Organization for Standardization (ISO).

Quality Assurance

The systematic process of verifying whether a product or service meets specified requirements and ensuring that it is defect-free and suitable for its intended purpose.