Which of the Following Transactions Would Cause an Asset to Increase

question 23

Multiple Choice

Which of the following transactions would cause an asset to increase and the owner's equity to increase?

• A) The owner invested cash in the business.
• B) The business incurred an expense on credit.
• C) The business bought supplies on account.
• D) The owner withdrew cash from the business.

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Definitions:

Ohio Congressman

A member of the United States House of Representatives who represents a congressional district in the state of Ohio.

Creole

Describes a person of mixed European and black descent, especially in the Caribbean, or the culture and language that has evolved from the blending of these groups.

Henry Brown

Can refer to Henry "Box" Brown, an African American slave who famously escaped to freedom by mailing himself in a wooden crate to abolitionists in Philadelphia in 1849.

Nickname

A familiar or humorous name given to a person or thing instead of or in addition to the real name.