If Total Liabilities Decreased By $75,000 And Stockholders' Equity Increased By $15,000 During A Period Of Time, Then Total Assets Must Change By What Amount And Direction During That Same Period? | MCQ Answer
The correct answer is (A) $60000 Decrease, as decrease in total liabilities by $75000 plus (+) increase in stockholders’ equity by $15000 equal to $60000 Decrease in total assets during
the same accounting period as it is proved from below Accounting Equation:
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