If services are rendered for credit, then
A) assets will decrease.
B) liabilities will increase.
C) equity will increase.
D) liabilities will decrease.

Name: If services are rendered for credit, then A) assets will decrease. B) liabilities will increase. C) equity will increase. D) liabilities will decrease.
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Question

Quizplus · Accepted Answer

When services are rendered for credit, it means revenue is earned, which increases equity through an increase in retained earnings.

If Services Are Rendered for Credit, Then