How Will the Following Adjusting Journal Entry Affect the Accounting

question 5

Multiple Choice

How will the following adjusting journal entry affect the accounting equation?

• A) increase assets,increase revenues
• B) increase liabilities,increase revenues
• C) decrease liabilities,increase revenues
• D) decrease liabilities,decrease revenues

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Definitions:

Bronze Metallurgy

The practice and knowledge involved in producing bronze, an alloy of copper and tin, used in tools, weapons, and sculptures in ancient times.

Warfare

The engagement in or activities associated with armed conflict between countries or groups.

Farming

The practice of cultivating plants and livestock to produce food, fiber, medicinal plants, and other products to sustain and enhance life.

Specialized Laborers

Workers skilled in specific fields or tasks, contributing to the efficiency and development of industries and economies through their expertise.