If assets are increased by 2,000$ and liabilities are decreased by 5,000$. How much is the change on owner's equity?
If assets are increased by 2,000$ and liabilities are decreased by 5,000$. How much is the change on owner's equity?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:If assets are increased by 2,000$ and liabilities are
decreased by 5,000$. How much is the change on
owner's equity?
O A, An increase of 3,000
O B, An increase of 7,000
O C, A decrease of 7,000
O D, A decrease of 3,000
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