Cash Payment on Accounts Payable Will

question 128

Multiple Choice

Cash payment on accounts payable will:

• A) increase liabilities and decrease stockholders' equity
• B) decrease assets and decrease liabilities
• C) increase assets and liabilities
• D) have no effect on the accounting equation

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Definitions:

Local Variables

Variables declared within a function or block, accessible only in their scope.

Global Variables

Variables that are defined outside any function and can be accessed from any part of the program.

Declaration Statement

A statement in programming that specifies a variable's type (and optionally its initial value) without executing any logic.