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Services Were Performed on Account

Question 56

Multiple Choice

Services were performed on account. Which of the following would be true?


A) Total assets decrease, net income increases, and owner's equity increases.
B) Net income decreases, owner's equity increases, and total assets increase.
C) Total assets increase, net income increases, and owner's equity increases.
D) Net income decreases, total assets decrease, and owner's equity decreases.

Correct Answer:

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