Since total assets always equal liabilities plus equity, equity can be decreased only if (1) assets are

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Since total assets always equal liabilities plus equity, equity can be decreased only if (1) assets are [increased / decreased], (2) liabilities are [increased / decreased], or (3) there is some combination of these two types of changes.

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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