Which of the Following Transactions Would Cause an Asset to Increase

question 23

Multiple Choice

Which of the following transactions would cause an asset to increase and the owner's equity to increase?

• A) The owner invested cash in the business.
• B) The business incurred an expense on credit.
• C) The business bought supplies on account.
• D) The owner withdrew cash from the business.

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Definitions:

Elasticity

In economics, it measures how the quantity demanded or supplied responds to changes in price or income.

Optometrist

A healthcare professional who provides primary vision care, ranging from sight testing and correction to the diagnosis, treatment, and management of vision changes.

Lens

The transparent disk-shaped structure behind the iris and the pupil that changes shape as it focuses on objects at varying distances.

Cornea

The transparent front part of the eye that covers the iris, pupil, and anterior chamber, providing most of the eye's optical power.