If an Individual Asset Is Increased Then

question 225

Multiple Choice

If an individual asset is increased then

• A) there must be an equal decrease in a specific liability.
• B) there must be an equal decrease in owner's equity.
• C) there must be an equal decrease in another asset.
• D) All of these answer choices are possible.

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Definitions:

Labor Force

The total number of people eligible to work, including both the employed and the unemployed who are seeking work.

Leisure

Free time when one is not working or occupied, allowing for relaxation, hobbies, and personal activities.

Nonpaid Labor

Work that does not receive financial compensation, often seen in domestic tasks, volunteer work, or internship experiences.

Marginal Utility

The supplementary value or utility derived from the consumption of one more unit of a good or service.