If current assets were $100,000 in 2013 and $88,000 in 2014,what was the amount of increase or decrease in percentage terms from 2013 to 2014? (Round to the nearest percent. )
A)Increase of 14%
B)Decrease of 14%
C)Increase of 12%
D)Decrease of 12%

Question

Quizplus · Accepted Answer

To calculate the percentage change, we need to use the formula: 
Percentage change = (Change in value / Initial value) x 100

Here, the change in value = $100,000 - $88,000 = $12,000 (decrease)
The initial value = $100,000

Therefore, Percentage change = ($12,000 / $100,000) x 100 = 12%
Since the current assets decreased from 2013 to 2014, the answer will be a decrease. Therefore, option D (Decrease of 12%) is the correct answer.

If Current Assets Were $100,000 in 2013 and $88,000 in 2014,what