If current assets were $88,000 in 20X7 and $100,000 in 20X8,what was the amount of increase or decrease? (Round to nearest percent. )
A)The percentage increase is 14%.
B)The percentage decrease is 12%.
C)The percentage decrease is 14%.
D)The percentage increase is 12%.

Question

Quizplus · Accepted Answer

The percentage increase is calculated as: [(100,000 - 88,000) / 88,000] * 100 = 13.64%, which rounds to 14%.

If Current Assets Were $88,000 in 20X7 and $100,000 in 20X8,what