If Total Liabilities Increased by $69,000 During a Period of Time

question 46

Multiple Choice

If total liabilities increased by $69,000 during a period of time and stockholders' equity decreased by $27,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total assets is a(n)

• A)$69,000 increase.
• B)$96,000 increase.
• C)$42,000 decrease.
• D)$42,000 increase.

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Definitions:

Job Context

The conditions, environment, and circumstances under which a job is performed, including physical, social, and psychological aspects.

Value

The importance, worth, or usefulness of something, often influencing decisions and behaviors.

Mental

Pertaining to the mind or psychological processes, including thoughts, emotions, and cognitive functions.

Accountability

The responsibility to report, explain, and be answerable for resulting consequences of one's actions.