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What the amount of the period change in total liabilities

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Reference no: EM133070991

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Q1) If total assets decreased by $52,314 during a period of time and stockholders' equity increased by $28,898 during the same period, then what the amount and direction (increase or decrease) of the period's change in total liabilities?

a. $21,374 increase

b. $81,212 decrease

c. $52,314 decrease

d. $81,212 increase

Q2) Which of the following is a business transaction?

a. purchase supplies on account

b. submit estimate for construction project

c. plan advertising for upcoming sale

d. give employees a raise beginning next month

Q3) Which of the items below is not a business entity?

a. entrepreneurship

b. partnership

c. proprietorship

d. corporation

Reference no: EM133070991

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