If Total Liabilities Decreased by $46,000 During a Period of Time

question 193

Multiple Choice

If total liabilities decreased by $46,000 during a period of time and owner's equity increased by $60,000 during the same period, the amount and direction (increase or decrease) of the period's change in total assets would be a

• A) $106,000 increase
• B) $14,000 increase
• C) $14,000 decrease
• D) $106,000 decrease

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Definitions:

Power Theory

An approach in sociology that examines how power dynamics and inequalities shape societal structures and individual interactions.

Social Inequality

A condition where there's an unequal distribution of resources, opportunities, and privileges among people in a society, often based on class, race, gender, or age.

Power Theory

A sociological perspective that holds that societal power is distributed unequally and that this inequality affects every aspect of people's lives.

Marginal Surplus Population

A group of individuals deemed excess to the labor requirements of an economy, often resulting from industrial and technological advances.