Which of the Following Can Be an Effect of a Transaction

question 241

Multiple Choice

Which of the following can be an effect of a transaction that increased an asset of a sole proprietorship for the accounting equation to balance?

• A) there is an equal decrease in another asset
• B) there is an equal decrease in equity
• C) there is an equal decrease in a liability account
• D) both liabilities and equity decrease

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Definitions:

Brinksmanship

A policy or practice, particularly in international politics and foreign policy, of pushing dangerous events to the brink of disaster in order to achieve the most advantageous outcome.

House Beautiful

A movement and magazine advocating for beauty in the home environment, supporting the idea that living in aesthetically pleasing spaces can improve quality of life.

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies from the end of World War II until the dissolution of the Soviet Union in 1991, characterized by threats, propaganda, and other measures short of open warfare.