If current assets were $100,000 in 2009 and $88,000 in 2010, what was the amount of increase or decrease in percentage terms from 2009 to 2010? (Round to the nearest percent.)

Question

Quizplus · Accepted Answer

To calculate the percentage change, we need to use the following formula:

Percentage change = ((ending value - beginning value) / beginning value) x 100

Using the formula, we get:

Percentage change = (($88,000 - $100,000) / $100,000) x 100
Percentage change = (-$12,000 / $100,000) x 100
Percentage change = -12%

Since the result is negative, it means there was a decrease. Therefore, the correct answer is D) Decrease of 12%.

If Current Assets Were $100,000 in 2009 and $88,000 in 2010