The two effects on the accounting equation when a business purchases inventory for $30,000 for cash is: Select one: a. Increases asset inventory by $30,000 and increase asset bank by $30,000 b. Decreases asset inventory by $30,000 and decreases asset bank by $30,000 c. Decreases asset bank by $30,000 and increases asset inventory by $30,000 O d. Increases asset bank by $30,000 and increases equity by $30,000 Which one of the following group's is not generally considered as an external user of the accounting information? Select one: a. Potential Employee. b. Lenders c. Management O d. Customers At the end of an accounting period, the amount of net profit earned by a company is transfered to: Select one: a. Balance Sheet b. Assets c. Liabilities d. Not transferred to Balance Sheet