Which of the Following Transactions Will Increase One Asset and Decrease

question 142

Multiple Choice

Which of the following transactions will increase one asset and decrease another asset?

• A)the purchase of office supplies on account
• B)the performance of services on account
• C)the purchase of equipment for cash
• D)the performance of services for cash

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Definitions:

Material

Physical substances from which objects are made, or resources used in production.

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A feature present in numerous software programs which enables users to rapidly duplicate and apply formatting from one section of a document to another.