Which of the Following Is a TRUE Statement

question 37

Multiple Choice

Which of the following is a TRUE statement?

• A)Purchasing office equipment for cash is a shift of Assets.
• B)Buying something on account decreases total Liabilities.
• C)Retained Earnings do not include payments of dividends.
• D)Paying off an account increases the total of Assets.

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Definitions:

Ground Transport

The movement of people or goods using vehicles that operate on roads or tracks, such as buses, trains, or trucks.

M-Pesa

A mobile phone-based money transfer, financing, and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, primarily in Africa.

Phone-Based Money Transfer

A service that allows individuals to send and receive money using mobile phone applications or text messages.

Companies

Legal entities formed by a group of individuals to engage in and operate a business enterprise, commonly aimed at profit.