1. If total liabilities increased by $100,000 and stockholders' equity increased by $30,000 during a period of time, then total assets must change by what amount and direction during that same period? Question 1 options: $100,000 increase $130,000 decrease $30,000 decrease $130,000 increase 2. Meat and Liquor Corp. has five plants nationwide that cost $400 million to build. The current fair market value of the plants is $550 million. The plants are listed for sale at $600 million. The plants will be reported as assets at Question 2 options: $516.7 million $600 million $400 million $500 million 3. Which of the following is an advantage of the corporate form of business organization? Question 3 options: Favorable tax treatment Easier to start than other forms Simpler to run No personal liability 4. Sale of $100 on account results in Question 4 options: A debit to accounts receivable and a credit to revenues a credit to accounts receivable and a debit to cash a credit to accounts receivable and a debit to