Purchasing Supplies on Account Increases Liabilities and Decreases Equity

question 54

True/False

Purchasing supplies on account increases liabilities and decreases equity.

---

Definitions:

Acrosome

A cap-like structure present over the anterior part of a sperm's head, containing enzymes that help sperm penetrate an egg.

Midpiece

A part of the sperm cell that contains mitochondria, providing energy for movement.

Centriole

A small, cylindrical cell structure in the cytoplasm of animal cells, involved in the process of cell division and in the formation of cilia and flagella.

Nourishment

The provision of food or other substances necessary for growth, health, and good condition.