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Accounting Equation If there is an increase in the value of an asset owing to a business transaction, then which of the following actions may

Accounting Equation

If there is an increase in the value of an asset owing to a business transaction, then which of the following actions may balance this effect? Select all appropriate options. (Note:More than one option may be correct.)

  1. Increase in the value of liability
  2. Decrease in another asset
  3. Increase in equity

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