Question
Which of the following transactions results in increase in liabilities and also decrease in liabilities? A Payment to creditors. B Payment of a bank
Which of the following transactions results in increase in liabilities and also decrease in liabilities? A Payment to creditors. B Payment of a bank loan. C A bill is accepted in payment of an open account obligation. D Payment of an installment of a truck purchased on hire purchase system.
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Principles of Accounting
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
12th edition
978-1133603054, 113362698X, 9781285607047, 113360305X, 978-1133626985
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