Answer to Question #246868 in Accounting for Another you

Question

A. Choose the letter that corresponds to the correct answer. (Refer to the information below)

(A business had owner's equity of 250,000 and 350,000 in 2020 and 2019 respectively)

1.) What is the behavior of the owner's equity over time?

A. Increasing

B. Decreasing

C. Not moving

D. Slow moving

2.) What is the peso change in owner's equity?

A. 100,000

B. -100,000

C. 29%

D. 40%

3.) What is the percentage change in owner's equity?

A. -29%

B. -40%

C. 29%

D. 40%

Answer 1

Qn 1. B

Qn 2. A

Qn 3. C