On January 1,a Company Reported Assets of $1,000,000 and Liabilities

question 40

Multiple Choice

On January 1,a company reported assets of $1,000,000 and liabilities of $600,000.During the year,assets decreased by $100,000 and shareholders' equity decreased $200,000.What is the amount of liabilities at December 31?

• A) $200,000
• B) $500,000
• C) $600,000
• D) $700,000

---

Definitions:

Segregation

The enforced separation of different racial groups in a country, community, or establishment, often discussed in the context of historical and modern racial policies.

Robert Frank

An influential Swiss-American photographer and filmmaker, best known for his 1958 book "The Americans" which captured candid moments of American society.

New Orleans

A multicultural city in the state of Louisiana, celebrated for its vibrant music scene, distinct French and Spanish Creole architecture, and annual Mardi Gras festival.

Benday Dots

Named after the newspaper printer Benjamin Day, the benday dot system involves the modulation of colors through the placement and size of colored dots.