decreases an asset $800; decreases a liability $800. has no effect on total assets. Question 4 (1 point) Accounting systems should record all economic events. O events that result in a change in assets, liabilities, or shareholders' equity items. only events that involve cash. only events that include revenues, expenses, and cash. Question 5 (1 point) When a liability decreases the account is credited and the normal balance is a debit balance