If Total Assets Decreased by $88,000 During a Period of Time

question 130

Multiple Choice

If total assets decreased by $88,000 during a period of time and stockholders' equity increased by $71,000 during the same period,then the amount and direction increase or decrease of the period's change in total liabilities is

• A)$17,000 increase
• B)$88,000 decrease
• C)$159,000 increase
• D)$159,000 decrease

---

Definitions:

Labor Unions

Organizations representing workers in various industries to negotiate wages, working conditions, and benefits on their behalf.

Social Equality

Social equality refers to a state of affairs in which all individuals within a society have the same status in certain respects, including civil rights, freedom of speech, property rights, and equal access to social goods and services.

Northern State

In the context of the American Civil War, a Northern state refers to any of the states that were part of the Union, opposing the seceding Confederate Southern states.

Common Schools

Early public schools in the United States aimed at providing basic education to children of all social classes.