Kelly Financial Services,Inc.invested $33,000 to acquire 7,250 shares of Mitt Investments,Inc.on March 15,2013.This investment represents less than 20% of the investee's voting stock.On May 7,2017,Kelly Financial Services,Inc.sells 2,750 shares for $12,250.In the accounting equation on May 7,2017,________.
A) total assets will remain unchanged
B) total assets will decrease
C) total liabilities will decrease
D) total equity will decrease
Correct Answer:
Verified
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