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If Total Liabilities Decreased by ¥30,000 and Equity Increased by ¥10,000

Question 53

Multiple Choice

If total liabilities decreased by ¥30,000 and equity increased by ¥10,000 during a period of time, then total assets must change by what amount and direction during that same period?


A) ¥40,000¥ 40,000 increase
B) ¥720,000¥ 720,000 decrease
C) ¥20,000¥ 20,000 increase
D) ¥30,000¥ 30,000 decrease

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