Match Each Transaction with Its Effect on the Accounting Equation

question 145

Multiple Choice

Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Provided a service to a customer on account

• A)Increase assets, increase liabilities
• B)Increase liabilities, decrease owner's equity
• C)Increase assets, increase owner's equity
• D)No effect
• E)Decrease assets, decrease liabilities
• F)Decrease assets, decrease owner's equity

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Definitions:

Ukrainian Orphan

Refers to children from Ukraine who have lost their parents and are in need of care, often highlighted in the context of humanitarian efforts or adoption discussions.

Natural Birth

A process of childbirth that minimizes medical intervention and promotes a natural delivery process.

Voluntary Protection Programs

A cooperative program between employers and the OSHA (Occupational Safety and Health Administration) that encourages companies to exceed the minimum safety standards.

Medical Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured.