if total liabilities decreased by $23,894 during a period of time and owner's equity increased by $31,570 during the same period, the amount and direction (increase or decrease) of the period's change in total assets would be a a. $7,676 increase b. $23,894 decrease c. $7,676 decrease d. $23,894 increase

if total liabilities decreased by $23,894 during a period of time and owner's equity increased by $31,570 during the same period, the amount and direction (increase or decrease) of the period's change in total assets would be a a. $7,676 increase b. $23,894 decrease c. $7,676 decrease d. $23,894 increase

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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