If the Assets of a Business Increased $89,000 During a Period

question 50

Multiple Choice

If the assets of a business increased $89,000 during a period of time and its liabilities increased $67,000 during the same period, equity in the business must have:

• A) Increased $22,000.
• B) Decreased $22,000.
• C) Increased $89,000.
• D) Decreased $156,000.
• E) Increased $156,000.