If a Transaction Causes an Asset Account to Decrease,which of the Following

question 25

Multiple Choice

If a transaction causes an asset account to decrease,which of the following related effects may occur?

• A)An increase of equal amount in an owners' equity account.
• B)An increase in a liability account.
• C)An increase of equal amount in another asset account.
• D)An increase in the combined total of liabilities and owners' equity.

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Definitions:

Atomic Symbol

A one or two-letter abbreviation derived from the element's name in English or Latin, representing a chemical element in the periodic table.

Ag

Known as silver, it is a chemical element with the symbol Ag and atomic number 47, often used in jewelry, electronics, and silverware.

Lead

A heavy metal with the symbol Pb and atomic number 82, known for its malleability, resistance to corrosion, and toxicity.

Atomic Symbol

A one- or two-letter abbreviation used to represent an element on the periodic table, based on the Latin name of the element.