Using the Notion That the Accounting Equation (Assets = Liabilities

question 88

Short Answer

Using the notion that the accounting equation (Assets = Liabilities + Stockholders' Equity)must remain in balance,indicate whether each of the following transactions is possible.
(a)Cash decreases; Accounts Payable decreases.
(b)Salaries Expense increases; Salaries Payable decreases.
(c)Accounts Receivable decreases; Service Revenue increases.

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Definitions:

Information Technology

Information technology pertains to the use and management of computers, software, and networks for storing, retrieving, and sending information, playing a crucial role in communications, data analysis, and business operations.

Intellectual Capital

The intangible value of an organization, including the skills, knowledge, experience, and relationships of its employees.

Knowledge Resources

The information, expertise, and skills that individuals or organizations possess, which can be leveraged to make decisions, solve problems, and create value.

Information Technology

The employment of computers, storage systems, networking, and additional physical hardware, infrastructure, and methods for the generation, processing, storage, security, and transfer of all types of electronic data.