Assuming No Other Changes Except a Decrease in Assets of $20,000

question 37

Multiple Choice

Assuming no other changes except a decrease in assets of $20,000, increase in liabilities of $10,000, and expenses of $60,000, by how much did owners' equity increase or decrease and what were revenues for the period?

• A) Owners' equity increased $30,000; revenues were $90,000
• B) Owners' equity decreased $30,000; revenues were $30,000
• C) Owners' equity increased $10,000; revenues were $70,000
• D) Owners' equity decreased $10,000; revenues were $70,000

Grasp the concepts of social dumping and its implications on international competition and labor markets.

Understanding U.S. trade policy focus and its implications on international labor mobility and capital mobility.

Familiarize with the rights of labor as established by various international declarations and agreements.

Recognize the purpose and outcomes of North American Agreement on Labor Cooperation (NAALC) and the impacts of NAFTA on labor.

---

Definitions:

Capital Improvements

Expenditures creating a benefit to a property over its existing state, often enhancing its value or extending its life.

Schedule K-1

A tax document used to report the income, deductions, and credits of a partnership or S corporation to its partners or shareholders.

Business Revenue

The total income generated by a company from its normal business operations before any expenses are subtracted.

Investment Expenses

Costs incurred in the process of generating income from investments, including fees, advisory services, and other related expenses.