If Total Liabilities Decreased by $14,000 During a Period of Time

question 99

Multiple Choice

If total liabilities decreased by $14,000 during a period of time and shareholders' equity increased by $6,000 during the same period,then the amount and direction (increase or decrease) of the period's change in total assets is a(n)

• A)$20,000 increase.
• B)$8,000 decrease.
• C)$8,000 increase.
• D)$14,000 increase.

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Definitions:

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