Which of the following transactions increases both assets and owner's equity?
A) Receipt of payment from a credit customer
B) Receipt of a bank loan
C) Rendering of a service, payment not yet received
D) Withdrawal of cash by the owner

Question

Quizplus · Accepted Answer

Rendering of a service increases owner's equity through revenue, and since payment is not yet received, it increases accounts receivable, an asset.

Which of the Following Transactions Increases Both Assets and Owner's