Several Transactions Are Listed

question 134

Multiple Choice

Several transactions are listed. Use the choices to identify the effect on the accounting equation for each transaction listed. (Choices may be used more than once.)
-providing services for customers for credit

• A)assets and liabilities increase
• B)assets and contributed capital increase
• C)assets and retained earnings increase
• D)two asset accounts are impacted, but there is no net effect on total assets
• E)assets and liabilities decrease
• F)assets and retained earnings decrease
• G)liabilities increase and retained earnings decrease
• H)liabilities decrease and retained earnings increase

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Definitions:

United States

The United States is a federal republic in North America, comprising 50 states, a federal district, five major self-governing territories, and various possessions.

Parental Leave

The period of time that a parent is allowed away from work to care for a newborn or newly adopted child, often while retaining one's job and sometimes receiving pay or benefits.

Industrialized Countries

Nations characterized by a robust industrial sector, advanced technological infrastructure, and higher levels of income and quality of life compared to less industrialized nations.

Unpaid Leave

A period of time that a worker is allowed to be away from their job without receiving salary or wages.