[Solved] If Total Liabilities Decreased by $46,000 During a Period of Time

Question 92
Multiple Choice

If total liabilities decreased by $46,000 during a period of time and owner's equity increased by $60,000 during the same period, the amount and direction (increase or decrease) of the period's change in total assets is

A) $106,000 increase
B) $14,000 increase
C) $14,000 decrease
D) $106,000 decrease

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