Need answer please not use ai If the liabilities of a business increased RM75,000 during aperiod of time and the owner's equity in the businessdecreased R30,000 during the same period, the assets ofthe business must have:a. Decreased RM105,000b. Increased RM45,000c. Increased RM30,000d. Decreased RM45,000

Step 1: Define Balance SheetThe balance sheet of a firm depicts the financial position on a given…

Answered: If the liabilities of a business…

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter4: Gross Income

Section: Chapter Questions

Problem 2CE

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If the liabilities of a business increased RM75,000 during a period of time and the owner's equity in the business decreased R30,000 during the same period, the assets of the business must have: a. Decreased RM105,000 b. Increased RM45,000 c. Increased RM30,000 d. Decreased RM45,000