If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period, what was the effect on the assets?
a. Assets would have increased $55,000.
b. Assets would have decreased $55,000.
c. Assets would have increased $19,000.
d. Assets would have decreased $19,000.
e. None of these.
Answer: A
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