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10. For the following business transaction, what is the effect of the transaction on the accounting equation: Paid utility bill received two weeks ago? A.

10. For the following business transaction, what is the effect of the transaction on the accounting equation: Paid utility bill received two weeks ago?

A. Assets decrease, liabilities decrease

b. assets decrease, equity decreases

c. assets increase, equity increases

d. liabilities increase, equity decreases

e. none of the above

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