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

question 34

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
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Inventory was purchased for cash.

• 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:

Uniqueness Advantage

A competitive advantage that a company or entity possesses due to its unique characteristics, making it stand out in the market.

Organizational Boundaries

The defined edges that distinguish the scope, responsibilities, and operations of an organization from its environment.

Geographic Dispersion

The extent to which members of an organization or community are spread out over a geographic area.

Technical Expertise

Specialized knowledge or skills in a specific field or technology.