If During the Current Year,liabilities of Corbett's Store Increased by $220,000

question 107

Multiple Choice

If during the current year,liabilities of Corbett's Store increased by $220,000 and owners' equity increased by $160,000,then:

• A)Assets at the end of the year total $380,000.
• B)Assets at the end of the year total $60,000.
• C)Assets increased during the year by $380,000.
• D)Assets decreased during the year by $60,000.

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