If Total Liabilities Increased by $14,000 During a Period of Time

question 211

Multiple Choice

If total liabilities increased by $14,000 during a period of time and owner's equity decreased by $6,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total assets is a(n)

• A) $14,000 increase.
• B) $20,000 increase.
• C) $8,000 decrease.
• D) $8,000 increase.

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Definitions:

Significance Level

The threshold below which a null hypothesis is rejected in statistical testing, typically denoted as alpha (α).

Income

The amount of money received by an individual or group over a specific time period, usually derived from work, investments, or business ventures.

Behaviorist

A proponent of behaviorism, a theory in psychology that emphasizes the importance of observable actions and behaviors over internal processes.

Population Variances

The measure of the dispersion of all values in the population from the mean.