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The inexperienced accounting clerk wrongfully entered the manager's salary of R11 000 into the insurance account. Which of the following represents the correct effect of

The inexperienced accounting clerk wrongfully entered the manager's salary of R11 000 into the insurance account.

Which of the following represents the correct effect of the correction of error entry on the accounting equation?

A.

equity increase and decrease.

B.

assets increase, equity decreases.

C.

assets decrease, equity increases.

D.

assets remain unchanged, equity decreases.

E.

assets increase and decrease.

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