Identify the account below that impacts the equity of a business:
A)Utilities Expense
B)Accounts Payable
C)Accounts Receivable
D)Cash
E)Unearned Revenue

Name: Identify the account below that impacts the equity of a business: A)Utilities Expense B)Accounts Payable C)Accounts Receivable D)Cash E)Unearned Revenue
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Question

Quizplus · Accepted Answer

Utilities Expense impacts the equity of a business because it is an expense, and expenses reduce net income, which in turn reduces owner's equity.

Identify the Account Below That Impacts the Equity of a Business