If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period,what was the effect on the assets?
A) Assets would have increased $55,000.
B) Assets would have decreased $55,000.
C) Assets would have increased $19,000.
D) Assets would have decreased $19,000.
E) None of the choices are correct.
Correct Answer:
Verified
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