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2 5 ) Rock Support Ltd . and Pool Equipment Rentals Company sign a contract to rent equipment in the next two years. Rental starts
Rock Support Ltd and Pool Equipment Rentals Company sign a contract to rent equipment in the next two years. Rental starts next week. What is the impact of this event on the accounting equation for Rock on the day of signing?
A Owner's equity increases and assets increase.
B Assets increase and liabilities increase.
C Assets decrease and liabilities decrease.
D No impact on the accounting equation.
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