During the Current Year, Liabilities of Hayden Travel Decreased by $50,000

question 125

Multiple Choice

During the current year, liabilities of Hayden Travel decreased by $50,000, and equity increased by $75,000 then.

• A) Assets at the end of the year total $125,000.
• B) Assets at the end of the year total $25,000.
• C) Assets increased during the year by $25,000.
• D) Assets decreased during the year by $125,000.

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Definitions:

Syncline

A fold, generally concave upward, with the youngest rocks in the center.

Cleavage

A property of minerals that describes their tendency to break along flat surfaces based on their crystalline structure.

Strike-Slip Fault

A type of fault where rocks on either side move horizontally past one another, typically a result of shear stress.

Oblique-Slip Faults

Faults that exhibit both vertical and horizontal movement, combining characteristics of strike-slip and dip-slip (normal or reverse) faults.