Question

Based on the table, which of the following is true?

a.
From 2005 to 2009, both assets and liabilities decreased.
b.
From 2005 to 2009, both assets and liabilities increased.
c.
From 2005 to 2009, assets decreased and liabilities increased.
d.
From 2005 to 2009, assets increased and liabilities decreased.

Answer 1

i’m not sure but i think it’s B

Answer 2

The following table shows the assets and liabilities of the Smith family in 2005 and 2009.

2005

home valued at $200,000

home valued at $180,000

mortgage of $30,000

• 2009
• home equity loan of $18,000
• car valued at $25,000
• car valued at $18,000
• car loan of $8,000
• boat valued at $20,000
• personal loan of $5,000

Based on the table, which of the following is true?

a. ) From 2005 to 2009, both assets and liabilities decreased. <<<CORRECT

b. ) From 2005 to 2009, both assets and liabilities increased.

c. ) From 2005 to 2009, assets decreased and liabilities increased.

d. ) From 2005 to 2009, assets increased and liabilities decreased.

Step-by-step explanation:

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