Two or More Items Could Be Affected by a Transaction

Multiple Choice

Two or more items could be affected by a transaction. Which of the following statements is INCORRECT?

A) An increase in an asset may result in a decrease in another asset.
B) An increase in an asset may result in a decrease in an asset and increase in a liability.
C) An increase in a liability may result in a decrease in an asset.
D) An increase in a liability may result in a decrease in owner's equity.