Match Each Transaction with Its Effect on the Accounting Equation

question 44

Multiple Choice

Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Paid part of an amount owed to a creditor

• 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:

Historical Management Theory

The study of past management practices and principles to understand the evolution of management thought and its application over time.

Business Environment

The combination of internal and external factors that influence a company's operating situation, such as economic conditions, competitors, and regulatory landscapes.

Quality Conscious

Being aware of and giving importance to the quality of products, services, or work, often striving to maintain or improve it.

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position.