If Total Liabilities Decreased by $90,000 and Stockholders' Equity Increased

question 164

Multiple Choice

If total liabilities decreased by $90,000 and stockholders' equity increased by $30,000 during a period of time, then total assets must change by what amount and direction during that same period?

• A)$120,000 increase
• B)$60,000 decrease
• C)$60,000 increase
• D)$90,000 decrease

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Definitions:

Microcultures

Subgroups within a larger cultural or social context, characterized by their own distinct norms, behaviors, and values.

Subcultures

Groups within a larger culture that have their own distinct norms, values, and interests.

Trekkies

Fans of the Star Trek franchise, often deeply engaged with its culture, attending conventions, and participating in related communities.

Action-Oriented

Characterized by a tendency to take actions or implement decisions quickly, focusing on achieving specific goals or outcomes.