During September 2022, Blowing Rock Diner's Total Liabilities Decreased by $75,000

question 88

Multiple Choice

During September 2022, Blowing Rock Diner's total liabilities decreased by $75,000 and its stockholders' equity increased by $15,000.The company's total assets must change by what amount and in what direction during that same period?

• A)$60,000 decrease
• B)$60,000 increase
• C)$75,000 increase
• D)$90,000 increase

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Definitions:

Patriotism

The feeling of love, devotion, and sense of attachment to one’s country and its values, often expressing pride in national achievements and a willingness to defend it.

American Economic System

A hybrid system combining elements of capitalism and government regulation, with a significant emphasis on private ownership and free-market principles.

Eugenics

A set of beliefs and practices aimed at improving the genetic quality of the human population, often associated with unethical and forced sterilization policies in the past.

American Population

The total number of people living in the United States, encompassing a diverse range of ethnic, racial, and cultural backgrounds.