Question
What effect does a business borrowing $7000 from the bank have on the accounting equation? a)An increase in the asset cash of $7000 and a
What effect does a business borrowing $7000 from the bank have on the accounting equation?
a)An increase in the asset cash of $7000 and a decrease in the liability bank loan of $7000.
b) A decrease in the asset cash of $7000 and a decrease in the liability bank loan of $7000.
c)An increase in the asset cash of $7000 and an increase in the liability bank loan of $7000
d).A decrease in the asset cash of $7000 and an increase in the liability bank loan of $7000.
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Management Accounting
Authors: Late RC Sekhar, AV Rajagopalan
1st Edition
195683609, 978-0195683608
