A Company Began the Year with Assets of $100,000,liabilities of $20,000,and

question 65

Multiple Choice

A company began the year with assets of $100,000,liabilities of $20,000,and stockholders' equity of $80,000.During the year assets increased $55,000 and stockholders' equity increased $20,000.What was the change in liabilities for the year?

• A) Increase of $75,000
• B) Increase of $35,000
• C) Decrease of $75,000
• D) Decrease of $35,000

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Definitions:

Dependent Edema

Swelling caused by the accumulation of fluid in tissues, typically influenced by gravity and often seen in the lower legs and feet.

Lactated Ringer's Solution

is a fluid commonly used for intravenous hydration and electrolyte replenishment in medical settings, especially during surgery.

Normal Saline

A sterile solution of sodium chloride in water, commonly used in medical settings for a variety of purposes, including hydration and wound cleaning.