If Total Liabilities Decreased by $30000 and Owner's Equity Decreased

question 100

Multiple Choice

If total liabilities decreased by $30000 and owner's equity decreased by $15000 during a period of time then total assets must change by what amount and direction during that same period?

• A) $45000 decrease
• B) $15000 decrease
• C) $15000 increase
• D) $45000 increase

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