Multiple Choice
The payment of an account payable
A) decreases total assets.
B) increases total assets.
C) has no effect on total assets.
D) increases total liabilities.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q49: The payment of a liability<br>A)decreases assets and
Q50: A trial balance can still balance even
Q52: Posting is performed by transferring information from
Q53: The basic format of a journal would
Q55: Which of the following is not true
Q56: The best interpretation of the word credit
Q57: A payment of a portion of accounts
Q58: The trial balance will not balance when<br>A)a
Q59: Collection of an account receivable will increase
Q72: Entering transactions into the journal is called