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Type: Multiple-Choice
Category: Accounting
Level: Grade 12
Score: 3
Author: Geo2127
Last Modified: 5 years ago

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Accounting Question

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Grade 12 Accounting

If total liabilities decreased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?
  1. $20,000 increase
  2. $10,000 decrease
  3. $10,000 increase
  4. $15,000 decrease
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