Multiple Choice
If total liabilities decreased by $55,000 during a period of time and owner's equity increased by $60,000 during the same period, the amount and direction (increase or decrease) of the period's change in total assets is
A) $115,000 increase
B) $5,000 increase
C) $5,000 decrease
D) $115,000 decrease
Correct Answer:
Verified
Correct Answer:
Verified
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