If Total Liabilities Decreased by $105,000 and Stockholders' Equity Decreased

question 80

Multiple Choice

If total liabilities decreased by $105,000 and stockholders' equity decreased by $35,000 during a period of time, then total assets must change by what amount and direction during that same period?

• A)$140,000 increase
• B)$70,000 decrease.
• C)$140,000 decrease.
• D)$70,000 decrease

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Definitions:

Free Black

Refers to African Americans who were not enslaved, particularly before and during the Civil War in the United States, some of whom had purchased their freedom or were freed by their enslavers.

Antiblack Mob Violence

Acts of violence perpetrated by groups targeting African Americans, often emerging from systemic racism and hate.

Antebellum Period

The time frame in United States history leading up to the Civil War, characterized by rising tensions over issues like slavery and the rights of states versus the federal government.

Industrialization

The process of transforming economies from primarily agrarian to one based on the manufacturing of goods, seen especially during the 19th and 20th centuries.