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If total assets increased by P 40,000 during the period and total liabilities decreased by...

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Accounting

If total assets increased by P 40,000 during the period and total liabilities decreased by P 24,000 during the same period, the amount and direction (increase or decrease) of the change in equity for that period:
P 64,000 increase
P 64,000 decrease
P 16,000 increase
P 16,000 decrease

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