Answer:
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.
Explanation:
Edge 2021
