Match Each Transaction with Its Effect on the Accounting Equation

question 76

Multiple Choice

Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Purchased equipment for cash

• 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:

Ethical Issues

Moral challenges or dilemmas that arise in a professional, civil, or personal context, often requiring careful consideration and judgment.

Cultural Adaptation

The process by which individuals or groups adjust and change their cultural behaviors and practices to fit into a new or different cultural environment.

Gay Marriage

The legal or socially recognized union of two individuals of the same sex, also known as same-sex marriage.

Material Culture

The physical objects, resources, and spaces that people use to define their culture, including buildings, artwork, tools, and clothing.