If the Liabilities of a Company Increased $92,000 During a Period

question 166

Short Answer

If the liabilities of a company increased $92,000 during a period of time and equity in the business decreased $30,000 during the same period, did the assets of the company increase or decrease? By what amount?

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Definitions:

Abiotic Environment

The non-living parts of the environment that affect living organisms, including climate, soil, and water.

Ecotourism

Travel focused on sustainable, respectful exploration and conservation of natural environments.

Biodiversity

The variety of life in the world or in a particular habitat or ecosystem, encompassing genetic, species, and ecosystem diversity.

Tropical Rain Forests

Dense forests located in the tropics, characterized by high rainfall, significant biodiversity, and a canopy structure.