When Applying the Principle of Duality to the Balance Sheet

question 61

Multiple Choice

When applying the principle of duality to the balance sheet equation, an increase in assets will not normally result in:

• A) an increase in liabilities.
• B) an increase in another asset.
• C) an increase in owners' equity.
• D) a decrease in another asset.

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Definitions:

Diet

The combination of foods and beverages consumed by an individual, which can influence health and wellness.

Emulsify Fats

The process of breaking down fats into smaller droplets, typically by the action of bile, to aid in digestion.

Bile

A digestive fluid produced by the liver and stored in the gallbladder, which helps in the digestion of fats.

Peristalsis

A series of wave-like muscle contractions that move food through the digestive tract.