Multiple Choice
Star Homes Inc. just recorded a transaction in its books of accounts. If this transaction increased the total liabilities by $7,000:
A) assets must increase, or equity must decrease by $7,000.
B) assets or equity must decrease by $7,000.
C) both assets and equity must each decrease by $3,500.
D) assets must decrease by $7,000.
Correct Answer:
Verified
Correct Answer:
Verified
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