A Business Settles a Liability by Making a Payment with Cash.How

question 45

Multiple Choice

A business settles a liability by making a payment with cash.How does paying this liability affect the accounting equation?

• A) Assets decrease; liabilities decrease.
• B) Liabilities decrease; owner's equity increases.
• C) Assets increase; liabilities increase.
• D) Assets increase; liabilities decrease.

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Definitions:

Other Cultures

Refers to cultures or societies that are distinct from one's own, emphasizing diversity in social practices, beliefs, and values.

Othering

A process that defines and secures one's own identity by denigrating someone else or another group that is considered different.

Gesture

A movement of the body or limbs that expresses or emphasizes an idea, sentiment, or attitude.

Culture

The shared values, traditions, norms, customs, arts, history, and institutions of a group of people.