A Business Receives a Bill for Services Rendered from One

question 125

Multiple Choice

A business receives a bill for services rendered from one of its suppliers.The business will pay the supplier next month.When the business receives the bill from its supplier,how does this affect the accounting equation?

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

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