Increases in Assets Are _______________,While Increases in Liabilities Are _______________

question 199

Short Answer

Increases in assets are _______________,while increases in liabilities are _______________.

---

Definitions:

Current Liabilities

Short-term financial obligations or debts of a company, typically due within one year.

Change

A generic term indicating the difference in value or condition over time, often used to describe shifts in markets, prices, or operational conditions.

Non-Eligible Dividends

Dividends paid by a corporation from income that is not eligible for the small business deduction or other special tax deductions, subject to higher personal taxes.

Capital Gains

The profit realized from the sale of assets like stocks, bonds, or real estate, when the selling price exceeds the purchase price.