If Total Assets Decreased by $88,000 During a Period of Time

question 42

Multiple Choice

If total assets decreased by $88,000 during a period of time and stockholders' equity increased by $71,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is

• A) a $17,000 increase
• B) an $88,000 decrease
• C) a $159,000 increase
• D) a $159,000 decrease

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