If Total Liabilities Increased by $6000 Then

question 211

Multiple Choice

If total liabilities increased by $6000 then

• A) assets must have decreased by $6000.
• B) owner's equity must have increased by $6000.
• C) assets must have increased by $6000 or owner's equity must have decreased by $6000.
• D) assets and owner's equity each increased by $3000.

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Definitions:

Quota System

A policy or practice of limiting the number of people from certain groups who can do something, such as immigrate to a country, attend a school, or be employed in certain jobs.

Immigrants

Individuals who move from one country to another with the intention of settling or residing there.

American Population

The total number of people living in the United States of America, including all ethnicities and demographics.

Million

A numerical value of 1,000,000 or a figure representing a large quantity in a specified context.