D Question 7 1 pts A large increase in liabilities means a company must correspondingly increase its purchase of assets in order for the balance sheet identity to remain true. O True O False Question 8 1 pts If Liabilities and Retained Earnings each decrease by 10% over a given period, then: Not enough information to say O Non-cash assets must have increased by 10% Assets must have increased by 10% Cash must have increased by 10% Question 9 1 pts Which of the following situations does not necessitate recognizing a liability for Company X