During May, Aniston, Inc

Multiple Choice

During May, Aniston, Inc.purchased office supplies for cash.The supplies will be used in June.What effect does this purchase transaction have on the accounting equation?

A) Assets increase and stockholders' equity decreases.
B) Assets increase and liabilities increase.
C) Assets decrease and liabilities decrease.
D) There is no effect on the accounting equation as one asset account increases while another asset account decreases.