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If Total Liabilities Increased by $15,000 and Shareholders' Equity Increased

Question 76

Multiple Choice

If total liabilities increased by $15,000 and shareholders' equity increased by $15,000 during a period of time, then total assets must change by what amount and direction (increase or decrease) during that same period?


A) $15,000 decrease
B) $15,000 increase
C) $30,000 decrease
D) $30,000 increase

Correct Answer:

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