On January 1, 2009, Total Assets for Liftoff Technologies Were

question 15

Multiple Choice

On January 1, 2009, total assets for Liftoff Technologies were $125,000; on December 31, 2009, total assets were $145,000. On January 1, 2009, total liabilities were $110,000; on December 31, 2009, total liabilities were $115,000. What is the amount of the change and the direction of the change in Liftoff Technologies' stockholders' equity for 2009?

• A)Decrease of $30,000
• B)Increase of $15,000
• C)Decrease of $15,000
• D)Increase of $30,000

---

Definitions:

Imprinting

Instinctive form of learning in which, during a critical period in early development, a young animal forms an attachment to the first moving object it sees, usually the mother.

Lifelong Development

The concept that human development is a continuous process that occurs throughout an individual's lifetime, from birth to death.

Cognitive

Relating to, or involving conscious mental activities such as thinking, understanding, learning, and remembering.

Psychosocial Domains

Aspects of an individual's psychological development in, and interaction with, a social environment.