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Which of the following is not a possible effect on the accounting equation from a single transaction of $1000? Hint: The accounting equation must balance
Which of the following is not a possible effect on the accounting equation from a single transaction of $1000?
Hint: The accounting equation must balance
Group of answer choices
Liabilities increase by $1000; Liabilities decrease by $1000
Assets increase by $1000; Equity increases by $1000
Liabilities decrease by $1000; Equity decreases by $1000
Assets decrease by $1000; Liabilities decrease by $1000
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