Credit purchase of machinery leads to increase the assets and liabilities equally in balance sheet Select one: True False Question 4 Not yet answered Marked out of 1 F Flag question Credit sale of machinery leads to increase the accounts receivable and decreases machinery items in balance sheet statement equally. Select one: True False Question 5 Not yet answered Marked out of 1 P Flag question Every economic event related to the economic entity is processed by accounting Select one: True False