If total assets decreased by $49,690 during a period of time and stockholders' equity increased by $29,221 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is a.$78,911 increase b.$23,656 increase c.$49,690 decrease d.$78,911 decrease

If total assets decreased by $49,690 during a period of time and stockholders' equity increased by $29,221 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is a.$78,911 increase b.$23,656 increase c.$49,690 decrease d.$78,911 decrease

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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