A Transaction That Decreases a Liability and Increases an Asset

question 182

True/False

A transaction that decreases a liability and increases an asset must also affect one or more other accounts.

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Definitions:

Michelle Obama

Former First Lady of the United States, known for her advocacy on poverty awareness, education, nutrition, physical activity, and healthy eating.

Political Affiliation

A person's alignment or association with a particular political party or ideology, reflecting their political beliefs and preferences.

Gender

Socially constructed roles, behaviors, expressions, and identities of girls, women, boys, men, and gender diverse people, distinguished from sex, which is based on physical and biological characteristics.

Outgroup Members

Individuals or groups perceived as not belonging to one's own group, which can affect attitudes and behavior towards them.