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If the liabilities of a business increased $85,000 during a period of time and the owner's equity in the business decreased $25,000 during the same period, the assets of the business must have: a. Decreased $110,000 b. Increased $60,000 c. Increased $25,000 d. Decreased $60,000

If the liabilities of a business increased $85,000 during a period of time and the owner's equity in the business decreased $25,000 during the same period, the assets of the business must have: a. Decreased $110,000 b. Increased $60,000 c. Increased $25,000 d. Decreased $60,000

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...
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If the liabilities of a business increased $85,000 during a period of time and the owner's equity in the business decreased $25,000 during the same period, the assets of the business must have: a. Decreased $110,000 b. Increased $60,000 c. Increased $25,000 d. Decreased $60,000
Transcribed Image Text:If the liabilities of a business increased $85,000 during a period of time and the owner's equity in the business decreased $25,000 during the same period, the assets of the business must have: a. Decreased $110,000 b. Increased $60,000 c. Increased $25,000 d. Decreased $60,000
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