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QUESTION 1 How would the accounting equation be effected by a business paying a creditor? O increase liability, increase equity O increase asset, increase liability

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QUESTION 1 How would the accounting equation be effected by a business paying a creditor? O increase liability, increase equity O increase asset, increase liability O decrease asset decrease equity O decrease asset, decrease liability QUESTION 4 Prepaid rent is what type of account? O revenue O liability O expense asset QUESTION 5 Wages Payable is what type of account? O asset O expense liability O revenue

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