A Company's Total Liabilities Decreased by $105,000 and Its Stockholders

question 53

Multiple Choice

A company's total liabilities decreased by $105,000 and its stockholders' equity decreased by $35,000 during a period of time.By what amount and in what direction must the company's total assets have changed during that same period?

• A)$140,000 increase
• B)$70,000 decrease
• C)$140,000 decrease
• D)-$70,000 decrease

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