If your ____,your net worth on the balance sheet would have increased from one period to the next.
A) liabilities increased and assets remained constant
B) liabilities increased and assets decreased
C) assets increased and liabilities remain constant
D) income increased
E) none of these

Question

Quizplus · Accepted Answer

If your assets increased and liabilities remained constant, your net worth (assets minus liabilities) would have increased from one period to the next. If any of the other options occurred, it would either decrease or have no impact on your net worth.

If Your ____,Your Net Worth on the Balance Sheet Would