Match Each Transaction with Its Effect on the Accounting Equation

question 170

Multiple Choice

Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Received payment from a customer on account

• 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

---

Definitions:

Digital Copies

Electronic versions of documents, images, or files that can be viewed, stored, and transmitted via digital devices.

Business Plans

Comprehensive documents that outline a company's goals, strategies, market analysis, financial needs, and projections for the future.

Me-Attitude

A perspective focused on the speaker's needs and perspectives rather than those of the audience.

Funding Organization

An entity that provides financial support for projects, programs, or individuals.