Multiple Choice
Cash payment on accounts payable will _____.
A) increase assets and liabilities
B) increase liabilities and decrease stockholders' equity
C) decrease assets and decrease liabilities
D) have no effect on the accounting equation
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q78: Measures the performance of an organization by
Q79: The accrual basis recognizes the impact of
Q80: The excess of sales over the cost
Q81: Any event that affects the financial position
Q82: Assets are normally bundles of future revenue.
Q84: The accounting convention of _ guides the
Q85: A method of record keeping in which
Q86: The ownership claim arising from reinvestment of
Q87: The board of directors of Riverside Company
Q88: From the following information, determine the