An Individual Asset Has Increased

question 48

Multiple Choice

An individual asset has increased.Which of the following is possible?

• A) There is an equal decrease in another asset.
• B) There is an equal decrease in owner's equity.
• C) There is an equal decrease in a liability account.
• D) Both liabilities and owner's equity decrease.

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Definitions:

Applying for Insurance

The process of submitting a request or application to an insurance company for coverage or protection against specific risks or perils.

Evaluate Risk

The process of identifying, analyzing, and determining the level of risk associated with a specific action or scenario.

Duty to Investigate

An obligation, often legal, to conduct a formal inquiry or examination into a matter or claim.

Insurer

A company or entity that provides insurance coverage to individuals or organizations against financial loss in exchange for premium payments.