When rent is incurred in one period and paid in the next period, this leads to which of the following accounts appearing in the statement of financial position? Select one: a. Prepaid rent b. Rent payable c. Rent receivable d. Rent expense An expense incurred: Select one: a. decreases equity b. increases equity c. increases assets and liabilities d. decreases assets and liabilities A credit to a liability account: Select one: a. indicates a decrease in the amount of assets. b. indicates an increase in the amount available to the owners. c. indicates an increase in the amount of expenses. d. indicates an increase in the amount owed to creditors