An accrual of wages expense would have what effect on the balance sheet? Select one: O A. Decrease liabilities and increase equity O B. Increase assets and increase liabilities O C.Increase liabilities and decrease equity O D. Decrease assets and decrease liabilities O E. None of the above As inventory and PPE assets on the balance sheet are consumed, they are reflected: Select one: O A. As a revenue on the income statement O B. As an expense on the income statement O C. As a cash flow outflow on the Statement of Cash flows O D. Both B and C O E. Assets are never consumed During fiscal 2016, Shoe Productions recorded inventory purchases on credit of $337.8 million. The financial statement effect of these purchase transactions would be to: Select one: Increase liabilities (Accounts payable) by $337.8 million O B. Decrease cash by $337.8 million O C.Increase expenses (Cost of goods sold) by $337.8 million D. Decrease noncash assets (Inventory) by $337.8 million O O E. Both A and D