Two or More Items Could Be Affected by a Transaction

question 120

Multiple Choice

Two or more items could be affected by a transaction. Which of the following statements is INCORRECT?

• A) An increase in an asset may result in a decrease in another asset.
• B) An increase in an asset may result in a decrease in an asset and increase in a liability.
• C) An increase in a liability may result in a decrease in an asset.
• D) An increase in a liability may result in a decrease in owner's equity.

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Definitions:

Employment Discrimination

Unfair treatment of employees based on race, gender, age, religion, nationality, disability, or sexual orientation, rather than job performance or qualifications.

Service Industry

A sector of the economy that provides intangible products, such as healthcare, entertainment, retail, and financial services, instead of physical goods.

Wage Rate

The amount of compensation a worker receives per unit of time (e.g., per hour or year) for their labor.

Real Minimum Wage

The lowest legal hourly wage, adjusted for inflation, that employers can pay their workers.