Multiple Choice
On January 1,2017,total assets for Liftoff Technologies were $125,000; on December 31,2017,total assets were $145,000.On January 1,2017,total liabilities were $110,000; on December 31,2017,total liabilities were $115,000.What are the amount of the change and the direction of the change in Liftoff Technologies shareholders' equity for 2017?
A) decrease of $15,000
B) increase of $15,000
C) increase of $30,000
D) decrease of $30,000
Correct Answer:
Verified
Correct Answer:
Verified
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