At the Beginning of the Fiscal Year, the Balance Sheet

question 38

Multiple Choice

At the beginning of the fiscal year, the balance sheet showed assets of $1,364 and stockholders' equity of $836. During the year, assets increased $74 and liabilities decreased $38. Liabilities at the end of the year totaled:

• A) $490
• B) $528
• C) $836
• D) $910

---

Definitions:

Decision-Making Criteria

The standards or principles used to evaluate and choose between different options or courses of action.

Manual System

A system or process that is operated or managed by human hands, without the use of automated or electronic devices.

Transmittal Document

A document that accompanies a shipment or delivery of goods, detailing the contents and instructions.

Formal Report

A structured document that presents information and analysis to assist in decision-making, often including sections such as an executive summary, methodology, findings, and conclusions.