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:

Phillips Curve

An economic theory suggesting an inverse relationship between the rate of unemployment and the rate of inflation in an economy.

Inflation

A continuous rise in the overall price level of goods and services within an economy over a period.

Unemployment

The condition in which a capable worker who is actively seeking employment is unable to find work.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in bank accounts.