For the Following Transaction,identify the Type of Change That Would

question 63

Multiple Choice

For the following transaction,identify the type of change that would have occurred in the accounting equation: Assets = Liabilities + Issued Capital + Opening retained profits + Revenue - Expenses - Dividends
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A payment was made to a creditor.

• A) A liability increased and another liability decreased.
• B) An asset decreased and a liability decreased.
• C) An asset increased and revenue increased.
• D) An asset decreased and an expense increased.

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Definitions:

Aptitude

A natural ability to do something or a person's innate potential for learning, understanding, or skill acquisition.

Fighter Pilot

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Forcibly Sterilized

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Intellect

The faculty of reasoning, understanding objectively, and applying knowledge.