Question
Which of the following statements about a journal entry is false? An increase in an asset account is compatible with an increase in a liability
Which of the following statements about a journal entry is false?
An increase in an asset account is compatible with an increase in a liability account.
An increase in an asset account is compatible with a decrease in an asset account.
An increase in a liability account is compatible with an increase in retained earnings.
A decrease in an asset account is compatible with a decrease in owners' equity.
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Financial Accounting Reporting And Analysis
Authors: Earl K. Stice, James D. Stice
7th Edition
0324227329, 978-0324227321
