If Total Liabilities Decreased by $46,000 During a Period of Time

question 162

Multiple Choice

If total liabilities decreased by $46,000 during a period of time and owner's equity increased by $60,000 during the same period, the amount and direction (increase or decrease) of the period's change in total assets is

• A) $106,000 increase
• B) $14,000 increase
• C) $14,000 decrease
• D) $106,000 decrease

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Definitions:

Late Adulthood

A stage of human development that typically refers to individuals aged 65 and older, often characterized by retirement, life review, and increased focus on health.

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