Multiple Choice
Which of the following is not a possible effect on the accounting equation from a single transaction of $1000?
A) Assets increase by $1000; Equity increases by $1000.
B) Assets decrease by $1000; Liabilities decrease by $1000.
C) Liabilities increase by $1000; Liabilities decrease by $1000.
D) Liabilities decrease by $1000; Equity decreases by $1000.
Correct Answer:
Verified
Correct Answer:
Verified
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