If Total Liabilities Decrease by $22,000 and Owner's Equity Increases

question 66

Multiple Choice

If total liabilities decrease by $22,000 and owner's equity increases by $8,000 during the period, then assets must have:

• A)increased $30,000.
• B)decreased $30,000.
• C)increased $14,000.
• D)decreased $14,000.

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Definitions:

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, irritability, and sadness.

Conscientiousness

A personality trait characterized by diligence, carefulness, thoroughness, self-discipline, and the desire to do a task well.

Therapy

A treatment intended to relieve or heal a disorder, often referring to psychological counseling or psychotherapy aimed at addressing mental health issues.

Hundreds of Studies

Refers to an extensive amount of research and academic inquiries conducted on a particular subject or field.