A Business Receives Its Bill for Utilities for the Current

Multiple Choice

A business receives its bill for utilities for the current month that it plans to pay next month when the payment is due. This transaction causes:

A) an increase in both assets and owner's equity.
B) a decrease in both owner's equity and liabilities.
C) an increase in both assets and liabilities.
D) an increase in liabilities and a decrease in owner's equity.