A Business Receives a Bill from One of Its Suppliers

question 57

Multiple Choice

A business receives a bill from one of its suppliers for services received. The business will pay the supplier next month. How does the receipt of the bill from the supplier affect the accounting equation of the business?

• A)Assets decrease; equity decrease.
• B)Liabilities increase; equity decrease.
• C)Assets increase; liabilities increase.
• D)Liabilities increase; equity increase.

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Definitions:

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A component of the TNM staging system used in cancer diagnosis, indicating the size and extent of the primary tumor.

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A straight line passing from side to side through the center of a body or figure, especially a circle or sphere, measuring its widest part.