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Two or more items could be affected by a transaction. Which of the following statements is INCORRECT? O An increase in an asset may result

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Two or more items could be affected by a transaction. Which of the following statements is INCORRECT? O An increase in an asset may result in a decrease in another asset. O An increase in an asset may result in a decrease in an asset and increase in a liability. O An increase in a liability may result in a decrease in owner's equity. O An increase in a liability may result in a decrease in an asset. Donald Piel is the accountant for the Canadian Athletic Association. He has just prepared the company's trial balance and discovered that the total debits are $10000 and total credits are $9973. Donald has likely made which of the following errors? Posted the journal entries to the wrong accounts. O Posted a debit as a credit. Transposed two numbers during posting. O Forgotten to make a journal entry

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