If Total Liabilities Decreased by $45,000 During a Period of Time

question 109

Multiple Choice

If total liabilities decreased by $45,000 during a period of time and shareholders' equity increased by $27,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total assets is a(n)

• A)$45,000 increase.
• B)$27,000 increase.
• C)$18,000 decrease.
• D)$18,000 increase.

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Definitions:

Political Corruption

The abuse of public power for private benefit, which undermines the integrity of government institutions.

Government Officials

individuals appointed or elected to manage public policies and administration at different levels of government.

Personal Gain

The benefit or advantage received by an individual, often in the context of financial or materialistic gains from business, investment, or other economic activities.

Property Taxes

Taxes levied on real estate by governments, based on the property's value, used to fund public services and infrastructure.