Match Each Transaction with Its Effect on the Accounting Equation

question 145

Multiple Choice

Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Provided a service to a customer on account

• A)Increase assets, increase liabilities
• B)Increase liabilities, decrease owner's equity
• C)Increase assets, increase owner's equity
• D)No effect
• E)Decrease assets, decrease liabilities
• F)Decrease assets, decrease owner's equity

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Definitions:

Vietnam Veterans

individuals who served in the military forces during the Vietnam War, spanning from 1955 to 1975, and may be eligible for various benefits and recognition.

Readjustment Act

Legislation aimed at providing benefits to military veterans, such as education and housing assistance.

Affirmative Action

Policies or practices that seek to address past discrimination and inequality by making efforts to increase opportunities for historically marginalized groups.

Disabled Veterans

Disabled veterans are military veterans who have sustained injuries or disabilities during their service, entitled to various benefits and protections as recognition of their service.