The Payment of a Liability

question 49

Multiple Choice

The payment of a liability

• A)decreases assets and shareholders' equity.
• B)increases assets and decreases liabilities.
• C)decreases assets and increases liabilities.
• D)decreases assets and liabilities.

---

Definitions:

Muffins

Small, single-serving quick breads baked in portions appropriate for one person, often sweetened and flavored with various ingredients.

Brownies

A square or rectangular chocolate baked treat that's dense and can be either fudgy or cakey in texture.

Sodium Bicarbonate

A chemical compound with the formula NaHCO3, commonly known as baking soda, used in baking, cleaning, and antacid preparations.

Baking Soda

A white crystalline compound used in baking as a leavening agent, known chemically as sodium bicarbonate.