Multiple Choice
If the liabilities of a business increased $75,000 during a period of time and the owner's equity in the business decreased $30,000 during the same period, the assets of the business must have:
A) Decreased $105,000.
B) Decreased $45,000.
C) Increased $30,000.
D) Increased $45,000.
E) Increased $105,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q63: There are at least three types of
Q66: According to the cost principle, it is
Q68: Strategic management is the process of determining
Q69: If the liabilities of a company increased
Q70: An owner's investment in a business always
Q72: Return on assets reflects the effectiveness of
Q73: Accounts payable appear on which of the
Q74: Annie's Attic has the following account balances
Q75: If a parcel of land that was
Q76: Internal users include lenders, shareholders, brokers and