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Which of the Following Does Not Correctly Describe the Following \quad

Question 106

Multiple Choice

Which of the following does not correctly describe the following journal entry? Supplies
\quad Cash


A) Total assets do not change.
B) The transaction is an example of a deferral.
C) Stockholders' equity decreases.
D) Net income is not affecteD.This journal entry increases and decreases two different asset accounts; there is no impact on stockholders' equity.

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