Accounting MCQ
Accounting 2000 Chapter 1
If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?
If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?
If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?
a. $10,000 decrease
b. $10,000 increase
c. $15,000 decrease
d. $20,000 increase
Answer: B
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