Multiple Choice
If an individual asset is increased, then
A) there could be an equal decrease in a specific liability.
B) there could be an equal decrease in shareholders' equity.
C) there could be an equal decrease in another asset.
D) none of these is possible.
Correct Answer:

Verified
Correct Answer:
Verified
Q29: An expense account is a subdivision of
Q59: Collection of an account receivable will increase
Q77: Accounting systems should record<br>A) all economic events.<br>B)
Q78: An expense<br>A) decreases assets and liabilities.<br>B) decreases
Q80: The normal balance of any account is
Q81: The purchase of an asset on credit<br>A)
Q83: A knowledge of the normal balances of
Q85: A credit is not the normal balance
Q86: Which of the following correctly identifies the
Q87: When a corporation pays a dividend, the<br>A)