Which of the following describes the impact of paying a current liability using cash on the balance sheet?
A)Current assets will decrease.
B)Current liabilities will increase.
C)Stockholders' equity will decrease.
D)Total assets will remain the same.

Question

Quizplus · Accepted Answer

Paying a current liability with cash decreases the cash account thus decreasing current assets.

Which of the Following Describes the Impact of Paying a Current