Match Each Transaction with Its Effect on the Accounting Equation

question 214

Multiple Choice

Match each transaction with its effect on the accounting equation. Each letter may be used more than once.
-Received cash for providing services to customers

• 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

---

Definitions:

Selfishness

The quality or state of being primarily concerned with one's own interests, benefits, or welfare, often at the expense of others.

Society

A structured community of people living together with shared laws, traditions, and values.

Binge Eating

The consumption of large quantities of food in a short period of time, often accompanied by feelings of loss of control.

Troubled Thoughts

Thoughts that are distressing, worrisome, or cause emotional discomfort to an individual.