If Total Assets Decrease,then Either Total Liabilities or Total Stockholders

question 68

True/False

If total assets decrease,then either total liabilities or total stockholders' equity must also decrease.

---

Definitions:

Rescind

To retract, cancel, or annul a contract or agreement, reverting the parties to their respective positions prior to the agreement.

Petition

A formal written request, often to a court or a governmental institution, seeking a particular legal remedy or governmental action.

Damages

The monetary compensation awarded to a person as a result of a lawsuit or legal claim for harm or injury.

Extortion

The practice of obtaining something, especially money, through force or threats.