If the liabilities of a company increased $94,000 during a period of time and equity in the company decreased $29,000 during the same period, what was the effect on the assets?
A. Assets would have decreased $29,000.
B. Assets would have increased $65,000.
C. Assets would have increased $29,000.
D. Assets would have decreased $65,000.
E. None of the choices are correct.
Answer: B
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