Multiple Choice
Blue Company collected $2,000 cash for work completed. The effects on the accounting equation are:
A) Total assets, total liabilities, and equity are unchanged.
B) Total assets increase and equity increases.
C) Both total assets and total liabilities decrease.
D) Both total assets and equity are unchanged.
E) Total assets decrease and equity increases.
Correct Answer:
Verified
Correct Answer:
Verified
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