If Total Liabilities Decreased by $30000 and Owner's Equity Decreased

question 100

Multiple Choice

If total liabilities decreased by $30000 and owner's equity decreased by $15000 during a period of time then total assets must change by what amount and direction during that same period?

• A) $45000 decrease
• B) $15000 decrease
• C) $15000 increase
• D) $45000 increase

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Definitions:

Collective Information-processing Model

A model that describes how groups gather, share, and evaluate information to make decisions collectively.

Social Loafing

The phenomenon where individuals expend less effort when working in a group than when working alone.

Bay Of Pigs

The location of a failed invasion attempt by Cuban exiles, supported by the U.S. government, in 1961 aimed at overthrowing Fidel Castro's regime in Cuba.

Reaching Consensus

The process of arriving at a mutual agreement or decision among group members through discussion and negotiation.