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Which of the following statement is always correct: a. If a transaction decreases net income, it will decrease total assets on the balance sheet. b.
Which of the following statement is always correct:
a. | If a transaction decreases net income, it will decrease total assets on the balance sheet. | |
b. | If a transaction increases net income, it will increase retained earnings on the balance sheet. | |
c. | If a transaction increases revenue, it will increase total assets on the balance sheet. | |
d. | If a transaction increases expenses, it will have no effect on the balance sheet. |
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