Multiple Choice
A $5,000 account payable is paid by the business.How is the accounting equation affected?
A) Assets decrease $5,000; owner's equity increases $5,000.
B) Assets decrease $5,000; liabilities decrease $5,000.
C) Assets increase $5,000; owner's equity decreases $5,000.
D) Assets increase $5,000; liabilities increase $5,000.
Correct Answer:
Verified
Correct Answer:
Verified
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