If a Business Issues a Check for $100 to Purchase

question 51

Multiple Choice

If a business issues a check for $100 to purchase office supplies, What is the effect on the accounting equation?

• A)Owner's Equity will decrease
• B)Assets will decrease
• C)Owner's Equity will increase
• D)Total Assets will remain the same

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Definitions:

Personal Connections

Relationships or associations between individuals, often based on shared interests, experiences, or mutual acquaintances.

English American Colonies

The thirteen territories in North America founded and governed by England between the early 17th and late 18th centuries.

Wealth

A measure of the value of all assets of worth owned by a person, community, company, or country.

Population

The total number of people inhabiting a specific area or country, often analyzed for demographics, density, and distribution patterns.