On January 1, 2014, Total Assets for Liftoff Technologies Were

question 22

Multiple Choice

On January 1, 2014, total assets for Liftoff Technologies were $125,000; on December 31, 2014, total assets were $145,000. On January 1, 2014, total liabilities were $110,000; on December 31, 2014, total liabilities were $115,000. What are the amount of the change and the direction of the change in Liftoff Technologies shareholders' equity for 2014?

• A) decrease of $15,000
• B) increase of $15,000
• C) increase of $30,000
• D) decrease of $30,000

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Definitions:

General Anesthetic

A drug or agent used to induce loss of consciousness, sensation, and reflexes during surgical procedures.

Muscle Relaxant

A medication or drug that reduces muscle tension and is used in the treatment of muscular spasms and pain.

Therapeutic Life-style

Lifestyle modifications or interventions designed to improve overall health and well-being, often used to support mental health treatment.

Aerobic Exercise

Physical exercise that involves or improves oxygen consumption by the body, enhancing cardiovascular endurance.