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Case-Based Critical Thinking Questions Case 6-2 Bryan has just started an internship in which he uses a database frequently. The database contains information about the company's employees. Bryan's supervisor senses that he is anxious about using the database and drops by to give him a short tutorial. Bryan is told by the supervisor that to create a database, he first needs to create the database ____ itself, and then he can create the necessary database objects.
Decrease Assets
A decrease in assets refers to a reduction in the value or quantity of the resources owned by an entity, which can result from sales, disposals, or consumption in operations.
Accounting Equation
The accounting equation is the fundamental framework of double-entry bookkeeping, stating that Assets = Liabilities + Equity, ensuring financial statements are balanced.
Liabilities
Financial obligations or debts that a company owes to external parties or entities.
Stockholders' Equity
The portion of a company's assets that is owned outright by the stockholders, calculated as the difference between total assets and total liabilities.
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