If Total Assets Decreased by $30,000 During a Specific Period

question 96

True/False

If total assets decreased by $30,000 during a specific period and stockholder's equity decreased by $35,000 during the same period, the period's change in total liabilities was an $65,000 increase.

---

Definitions:

Ecology Component

elements within the field of ecology that are considered part of the environmental system, including both biotic and abiotic factors.

Abstract Ideas

Thoughts or concepts that do not have physical or concrete existence but exist as mental representations.

Material Objects

Physical items or possessions that can be seen, touched, and owned, often used to denote wealth, status, or personal preference.

Ideology Component

Refers to the discrete elements that make up a broader ideology, influencing beliefs and perspectives.