Multiple Choice
Which of the following statements is true?
A) Purchasing office furniture on credit decreases total assets.
B) Financing purchases with long-term notes payable decreases total liabilities.
C) Declaring dividends decreases total stockholders' equity.
D) Purchasing inventory for cash causes total assets to increase.
E) Both c and d.
Correct Answer:
Verified
Correct Answer:
Verified
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