QuestionMary bought a \$30,000 boat with a \$2,000 down payment. What happened to her assets and liabilities? A) Both decreased B) Both increased C) Assets decreased, liabilities increased D) Assets increased, liabilities decreased. Choose the best answer.
Studdy Solution
Based on the analysis in5, we can conclude that Mary increased both her assets (by acquiring the boat) and her liabilities (by taking the loan). Therefore, the correct answer isb. Mary increased both assets and liabilities.
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