Match Each Transaction with Its Effect on the Accounting Equation

question 138

Multiple Choice

Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Used up supplies that were already on hand

• 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

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Definitions:

1970s

A decade in the 20th century (from 1970 to 1979) marked by significant social, political, and cultural change, including movements for civil rights and environmentalism.

1960s

A decade marked by significant cultural, political, and social changes worldwide, often associated with civil rights movements and counterculture.

1950s

A decade spanning from January 1, 1950, to December 31, 1959, often characterized by post-war economic growth, technological innovation, and distinctive social norms.

Nursing Home

A residential facility for individuals who require constant nursing care and have significant deficiencies with activities of daily living.