If Total Liabilities Increased by $15 000 and Equity Decreased

question 31

Multiple Choice

If total liabilities increased by $15 000 and equity decreased by $10 000 over a period,then total assets must have changed by?

• A) $15 000 increase.
• B) $25 000 increase.
• C) $5 000 decrease.
• D) $5 000 increase.

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Definitions:

Extrinsic Freedom

Refers to freedom limited or determined by external factors or circumstances.

Determinists

The belief that all events, including moral choices, are determined completely by previously existing causes, in relation to the philosophical idea that every event or state of affairs, including every human decision and action, is the necessary result of antecedent states of affairs.

Free Choices

The ability or power to make decisions without constraints, enabling one to act on one's own volition.

Indeterminism

The doctrine that not all events, including moral choices, are determined by previously existing causes and that humans have the capability for free will.