The payment of a liability:
A) decreases assets and liabilities.
B) decreases assets and equity.
C) increases assets and decreases liabilities.
D) decreases assets and increases liabilities.
Correct Answer:
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Q1: An investment by shareholders in a company
Q2: Liabilities + equity should always be:
A)less than
Q3: The sale on credit of a computer
Q4: The effect on the accounting equation of
Q5: Which of these is correct?
A)Assets + liabilities
Q7: For the cash account to decrease and
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Q9: Which of these would be classed as
Q10: For the accounting equation to balance each
Q11: The effect on the accounting equation of
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