If total assets increased $20,000 during a period and total liabilities increased $12,000 during the same period,

Question:

If total assets increased $20,000 during a period and total liabilities increased $12,000 during the same period, the amount and direction (increase or decrease) of the change in owners’ equity for that period is:
A. a $32,000 increase. C. an $8,000 increase.
B. a $32,000 decrease. D. an $8,000 decrease.AppendixLO1

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