An increase in a current asset account must be accompanied by a corresponding increase in a liability account.

Name: An increase in a current asset account must be accompanied by a corresponding increase in a liability account.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is false. An increase in a current asset account may be due to various reasons such as increased sales, collections, or investments. It does not necessarily require a corresponding increase in a liability account.

An Increase in a Current Asset Account Must Be Accompanied