A Company Began the Year with Assets of $200,000,liabilities of $40,000,and

question 58

Multiple Choice

A company began the year with assets of $200,000,liabilities of $40,000,and stockholders' equity of $160,000.During the year assets increased $110,000 and stockholders' equity increased $40,000.What was the change in liabilities for the year?

• A)Increase of $150,000
• B)Increase of $70,000
• C)Decrease of $150,000
• D)Decrease of $70,000

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Definitions:

Tiny Balloon

A reference that could apply to a miniature balloon possibly used in medical contexts, such as in balloon angioplasty to open up blocked or narrowed blood vessels.

Ventricles

Lower chambers of the heart or cavities in the brain that produce and contain cerebrospinal fluid.

Bluish Or Gray Color

A physical sign indicating potential oxygen deprivation or circulatory issues, often observed in the skin or mucous membranes.

Oxygen Deficiency

A condition in which there is an insufficient amount of oxygen in the body tissues or blood to meet physiological needs; also known as hypoxia.