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You recently formed a small business selling Fish and Chips from a mobile food truck. The business is doing so well, you decide to include

You recently formed a small business selling Fish and Chips from a mobile food truck. The business is doing so well, you decide to include your brother as a partner. He joins the company and contributes a second food truck. Which describes the effect of this transaction on the accounting equation of your company? 0 0 0 Equity increases, Liabilities decrease Both Assets and Equity increase Both Equity and Liabilities decrease Assets increase, Liabilities decrease

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