Multiple Choice
If total assets decreased by $88,000 during a period of time and owner's equity increased by $71,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is
A) $17,000 increase
B) $88,000 decrease
C) $159,000 increase
D) $159,000 decrease
Correct Answer:
Verified
Correct Answer:
Verified
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