ial Accounting: Information for Decisions - Wild, Shaw, Chiappetta, 7e, Accounting in Business Which of the following statements describes the effect of expenses on equity? Click the answer you think is right. Expenses cause equity to increase. Expenses decrease equity only in the period they are paid. Expenses have little or no effect on equity. Expenses cause equity to decrease. Read about this Do you know the answer? I know it Think so Unsure No idea 51 items on