Which of the Following Is True When Considering the Accounting

question 74

Multiple Choice

Which of the following is true when considering the accounting equation?

• A) An increase in an asset must always equal a decrease in a liability.
• B) For every transaction an asset and a liability must be affected.
• C) An increase in a liability must equal a decrease in owner's equity.
• D) An increase in an asset may result in a decrease in another asset.

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Definitions:

Competence

The ability of an individual to do something successfully or efficiently.

Empathy

Ability to put oneself in another person’s place and feel what the other person feels.

Middle Childhood

The developmental stage in children aged approximately 6 to 12 years, typically involving significant growth in cognitive, emotional, and social areas.

Empathic Parents

Caregivers who possess the ability to understand and share the feelings of their child, fostering a supportive and understanding family environment.