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

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Definitions:

ATP Synthase Complexes

Complex enzyme structures that synthesize adenosine triphosphate (ATP), the energy currency of the cell, during the process of cellular respiration or photosynthesis.

Concentration Gradient

The gradual difference in the concentration of solutes in a solution between two regions, often leading to diffusion.

Electron Transport Chain

A series of protein complexes and other molecules that transfer electrons from electron donors to electron acceptors via redox reactions and generate ATP in the process.

Decarboxylation

A reaction in which a molecule of CO2 is removed from a carboxyl group of an organic acid.