The accounting equation can change as a result of certain transactions. Which one of the following transactions would not affect the accounting equation? Purchasing a non-current asset on credit The owner withdrawing cash Selling goods for more than their cost Receivables paying their accounts in full, in cash Which of the following does NOT apply to the preparation of financial statements? They are prepared mainly for external users of accounting information They are prepared to show the detailed costs of manufacturing trading. They are prepared annually They provide a summary of the outcome of financial transactions