Multiple Choice
Which of the following does not correctly describe the following journal entry? 
A) Total assets do not change.
B) The transaction is an example of a deferral.
C) Stockholders' equity decreases.
D) Net income is not affecteD.This journal entry increases and decreases two different asset accounts; there is no impact on stockholders' equity.
Correct Answer:
Verified
Correct Answer:
Verified
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