Regarding the Relationships of Revenues and Expenses to Assets and Liabilities

Regarding the relationships of revenues and expenses to assets and liabilities, state whether each of the following statements is true or false. a)Recording an increase in a revenue account may be associated with a decrease in assets.b)Recording an increase in a revenue account may be associated with a decrease in liabilities.c)Recording a decrease in assets may be associated with an increase in an expense account.d)A decrease in Supplies will be accompanied by an increase in Supplies Expense.