If the assets of a company increase by $55,000 during the year and its liabilities increase by $25,000 during the same year, then the change in equity of the company during the year must have been:
A) An increase of $80,000.
B) A decrease of $80,000.
C) An increase of $30,000.
D) A decrease of $30,000.
E) An increase of $25,000.
C) An increase of $30,000.
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An investor earns $400 in dividends and $800 in capital gains over a year. If the tax rate on these earnings is 15%, what is the total tax that the investor is liable to pay on these earnings?
A. $0. B. $60. C. $120. D. $180.
Stock splits:
A. are a type of dividend. B. change the retained earnings account. C. decrease the number of shares outstanding. D. change the par value of the shares.
Why is it important that the systems professionals who design a project not perform the detailed feasibility study of the project?
Audit objectives in the electronic data interchange (EDI) environment include all of the following except
a. all EDI transactions are authorized b. unauthorized trading partners cannot gain access to database records c. a complete audit trail of EDI transactions is maintained d. backup procedures are in place and functioning properly