# accounting

If total assets decreased by \$47,000 during a period of time and owner's equity increased by \$24,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is ________.
\$23,000 increase
\$47,000 decrease
\$71,000 decrease
\$71,000 increase

1. 👍
2. 👎
3. 👁
1. Decrease in liabilities of \$71,000

1. 👍
2. 👎

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