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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