Question
A business buys office equipment on credit for $75,000. What would be the effects of this transaction on the accounting equation? a) Assets increase by
A business buys office equipment on credit for $75,000. What would be the effects of this transaction on the accounting equation?
a) Assets increase by $75,000 and liabilities increase by $75,000.
b) Assets increase by $75,000 and expenses decrease by $75,000.
c) Liabilities increase by $75,000 and expenses decrease by $75,000.
d) Assets decrease by $75,000 and expenses decrease by $75,000.
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Cost Accounting
Authors: M.E. Thukaram Rao
3rd Edition
8122433820, 978-8122433821
