For the Following Transaction,identify the Type of Change That Would

question 7

Multiple Choice

For the following transaction,identify the type of change that would have occurred in the accounting equation: Assets = Liabilities + Issued Capital + Opening retained profits + Revenue - Expenses - Dividends
12 months' depreciation was charged on the office building.

• A) An asset increased and another asset decreased.
• B) An asset decreased and an expense increased.
• C) An asset decreased and a liability decreased.
• D) A liability increased and an expense increased.

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Definitions:

Human Behavior

The range of actions and mannerisms exhibited by humans in response to their environment or stimuli, influenced by culture, attitudes, emotions, values, and genetics.

Critical Theory

A philosophical approach that seeks to understand, critique, and change society and culture by examining underlying power structures and social injustices.

Social Constructions

Concepts or perceptions of reality based on the collective views shaped by society and culture rather than inherent characteristics.

Method of Tenacity

A way of knowing or believing in something based on the stubborn adherence to a belief despite evidence to the contrary.