Multiple Choice
If total liabilities decreased by $60000 and owner's equity increased by $30000 during a period of time then total assets must change by what amount and direction during that same period?
A) $90000 decrease
B) $30000 decrease
C) $30000 increase
D) $90000 increase
Correct Answer:
Verified
Correct Answer:
Verified
Q59: Owner's equity is often referred to as<br>A)
Q60: The accounting profession provides many career opportunities
Q61: The study of accounting is not useful
Q62: A basic assumption of accounting assumes that
Q63: Match the type of decision that user
Q65: Auditing is<br>A) the examination of financial statements
Q66: Which of the following is <b>not</b> part
Q67: Proprietorships partnerships and corporations<br>A) are the three
Q68: Liabilities of a company would <b>not</b> include<br>A)
Q69: Accountants refer to an economic event as